The American Institute of Certified Public Accountants Research Paper

The American Institute of Certified Public Accountants - Research Paper utilizationThe cheek sets up policies and standards to control the acts and non-acts of Certified Public Accountants within the United States. The standards include the Code of headmaster Ethics for Certified Public Accountants.The American Institute of Certified Public Accountants institution takes a pivotal role to ensure all information transmitted by corporeal America to the general unexclusive is fairly presented. The organization institutes policies to ensure all its members prepare fairly presented financial reports. noncompliance may solving to either minor penalties or major penalties.The organization plays a vital role in crafting and implementing be standards. The members of the organization are required to implement all the sections enumerated in the organizations sets of accounting standards. unmatched of the accounting standards is Generally Accepted Accounting Standards (GAAP). The standa rds set the guidelines on when and how much of each account should be recorded in the financial reports. The financial reports include the balance rag and income statement. The accounts listed in the balance sheet include the asset accounts, liabilities account, and the capital accounts. The accounts listed in the income statement include the revenues (sales), cost of revenues (sales), administrative expenses, and marketing expenses (Wlytok, 2011).The organizations Council implemented the AICPA Code of Professional Conduct. The AICPA organization that established the accounting standards is the Financial Accounting Standards Board. The AICPA organization regularly distributes its AICPA Accounting Research Bulletins (Wlytok, 2011)The American Institute of Certified Public Accountants benefits the general public in several ways. The organization sets up the auditing standards. The accountants are required to comply with all the sections listed in the auditing standards. Likewise, the organization ensures that the corporate financial reports