A Board of Directors of a company is supposed to represent the shareholders prevent the company from using deceptive accounting tactics that mislead investors. Any board member of any company knows that the goal of a company’s board is to serve shareholders.... 

Typical goals of the firm include (1) stockholder wealth maximization; (2) profit maximization; (3) managerial reward maximization; (4) behavioral goals; and (5) social responsibility. Modern managerial finance theory operates on the assumption that the... 

The selection of accounting principles occurs at two levels. First, the FASB determines which principles constitute GAAP. In a number of instances, however, the FASB allows the use of more than one method. Thus, corporate managers also make accounting...