Accounting Police: Do They Exist? Who created accounting principles? Who sets and revises accounting standards? What if you don’t follow all the rules, do you go to jail? Is there an accounting police force that investigates and arrests violators? It would seem that there must be some regulatory force to make sure that providers of financial statements conform to the rules There is, up to a point, and here is how it works:Mainly, it’s all voluntary and it works pretty ...

Business Checking A checking account is must for every business Banks offer a whole range of accounts ie, from basic checking to accounts that offer a wholesome package of servicesBusiness Checking is a great place to start, if you are just starting your business or if you anticipate fewer transactions with low balances per month and need a basic checking account If a business consists of small to mid sized number of transactions per month, then Business Checking is an ...

Defining the Financial Services Authority Every country that has a banking and finance system needs some sort of entity to regulate it after all, simply allowing banks and financial companies to run independently without any sort of system of checks and balances would almost certainly lead to corruption and disaster In the UK , the regulatory entity of the financial system is the Financial Services Authority, or the FSA, and is operated independently of the government in an effort to offer a non-governmental control of the financial industry History ...