Question: Search the course background information, the Internet and the Starbucks annual reports. Discuss the terms listed below. Explain why the following concepts/governing agencies are important to financial statements in general and to Starbucks.

  • Financial Accounting Standards Board (FASB)
  • Generally Accepted Accounting Principles (US GAAP)
  • American Institute of Certified Public Accountants (AICPA)
  • International Accounting Standards Board (IASB)
  • International Financial Reporting Standards (IFRS)
  • Securities and Exchange Commission (SEC)
  • Public Company Accounting Oversight Board (PCAOB)
  • Annual report;
  • 10-K, 10-Q, and 8-K