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Although financial and managerial accounting use similar primary financial statements, the analysis of the documents and the information presented differs tremendously primarily because the financial a... Accounting is really the means for providing financial information to others. Gaap and Ifrs Convergence. In order to regain lost respect in the accounting profession an accountant must have integrity and ethics that are above and beyond the norm. Congress gave the SEC the responsibility and authority to set accounting standards, specifically for companies whose securities are publicly traded. I have put our whole efforts in making this report, and I am fully satisfied with it.... Other controls The first of these controls, establishment of responsibility, is the assignment of responsibility to certain employees....
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