Should the Sec replace the FASB Research Paper Example | Topics and Well Written Essays - 500 words - 1

Should the Sec replace the FASB - Research Paper Example Generally, FASB has five main goals: improving common understanding of the nature and purposes of financial reports, keeping accounting standards updated to reflect various changes in methods of conducting business and in the economy in general, promoting international convergence of accounting standards that are concurrent with making better the reasonability of financial reporting, taking into account quickly any areas of significance with regards to deficiency when it comes to financial reporting which maybe improved by way of standard setting, improving the usefulness of financial reporting by focusing on the important qualities of comparability and consistency and also on the primary characteristics of relevance and reliability.(Loren, John and Jefferson,2010) SEC stands for U.S. Securities and Exchange Commission .its mission is to protection of investors, maintaining fair, orderly, and highly efficient markets, and facilitating capital formation. The common interest of citizens is a growing economy which produces jobs, improves peoples’ living standard, and protects their savings. Thus the actions of SEC must be taken with an approach toward promotion of capital formation which is necessary for sustaining economic growth. (Young, 2003 p27) The SEC does oversee many key participants in the world of securities, including exchanges of securities, securities dealers, investment advisors, and also mutual funds. SEC is concerned with promoting disclosure of market-related information, protecting against fraud and maintaining fair dealing. SEC is the main overseer and regulator of the securities markets in the U.S., it also works hand in hand with a host of other institutions, including Congress, federal departments and agencies, the stock exchange, securities regulators, and many other private sector organizations. The main responsibilities of SEC are interpretation of

Daily Life in Ancient Rome Research Paper Example | Topics and Well Written Essays - 2000 words

Daily Life in Ancient Rome - Research Paper Example According to John R. Clarke in his book â€Å"Roman Life,† (S)o much of what we know comes from classical literature, written by elite men. Naturally, the texts give the mindset of the upper classes of Roman society. There's not a single woman writer, nor are there any literary texts written by slaves, former slaves, or freeborn workers.1 It wasn’t until the Fifth Century BC that Romans were divided into classes during the census for the purpose of determining eligibility for military service.2 The lowest classes were slaves seized during conquest and just above them the proletariat or proletarii, the landless and unemployed poor who could not afford military equipment. Proletarii were not considered Roman citizens because of their landless status and thus could not vote or serve in the military. It wasn’t until 212 AD that all free men were counted as citizens, but not women or slaves. The Marian Reforms after 107 BC provided that the proletariat and freed slave s could serve in the military with equipment provided by the state.3 This was mostly out of need, since the ranks of the military, typically drawn from landowners and merchant classes, were stretched thin by foreign wars. Marius changed the structure of the military in revolutionary ways, discarding the Greek-influenced fighting cohort and strategy.4 Marius further granted Roman citizenship to all who served in the military.5 As landless poor, the proletariat class had nothing to return to after a military campaign and often remained in the military as career soldiers for many years. Some became wealthy owing to the spoils of war. Reforms affecting the lower classes were also proposed by the Gracchus brothers, Tiberius and Gaius, between 133-126 BC.6 Their proposed agrarian reforms would give the plebian masses a small parcel of land to work and make them eligible for military service. They were responding to the threat of an uprising among the landless poor who thronged to Rome as slaves now did the work they had once performed and they were thus unemployed with no means of earning a living.7 Where the older brother, Tiberius, failed, the younger brother, Gaius, succeeded. Unfortunately, Gaius was a bit too liberal in his intent to give citizenship to all Italians and the Senate put him down. As the mobs of plebians revolted, over 3000 were executed and Gaius had a slave kill him. The condition of the proletarian plebes hadn’t changed much by the time of Roman satirist Juvenal (55-127 AD). He opined that the masses looked to just two things, bread and circuses.8 This referred to the free grain and the many games and holidays provided by the elites in government to keep the unemployed masses of Rome from rising up and to guarantee their loyalty to their patrons.9 Since most unemployed plebians were illiterate and often uninformed on the issues, they usually sold their vote to the candidate offering the most to them.10 Thus the legislative assembly of th e Plebian Council lost much of its populist power and the masses resorted to occasional mobs and violent uprisings to make their voices heard. There were essentially only two political parties. The populares, or people’s party, and the optimates, or senatorial party.11 The populares were for the distribution of land and cancellation of debt. The