text: The Accounting in the Business World
  A Business any where in the world , can not survive with using some form of Accounting. Accounting is used to control and watch the money, decide what the business should or shouldn`t do financially, or if certains investment are good idea. There is no way a business to survive just spending money here and there without using any of the previous examples listed. As the American economy grow, so did the private business side, but each business decided to do their accounting side of the business different from the next private business. So in 1973, the Financial Accounting Standard Board or the FASB was created in order to standadised Accounting. They exist to keep so what order in the Accounting world, but over time have they made accounting too difficult for accountants and other trying to understand the budget report.
  One complaint people have with the FASB, is that they have made the accounting book over complicated over the years, it gotten to the point that very few people prepare financial statement, and even few read the statement ( Davenport). Due it difficulty it could be turning away average people who wish to start to invest in business, The problem is that the financial statement must be that same across the board, so it not just a few companies doing this. But Mr. Neuhausen disagrees, he believes that the FASB standard financial statement is not meant to be marvel over, it meant for certain people educated in that field to read it and based decisions off it (Davenport).
  Along with making financial statement more difficult for people to read, the FASB also complicates how the banks operate as well. The FASB, has a say in how the banks show their assets, for awhile, banks liked the new system that they proposed, it was based off expected loss in the near time future( Adler, Joe). This method of banks reporting their assets, would simply a lot for the banks and also help prevent the credit loss. What he banks didn`t like is that the FASB later came out and said hat the banks would be force to show thier losses and gains based off thier standing right now, so far into the future that the result would be questionble and could not be relible for invester to use (Alder, Joe). This could ruin banks that would in normal situation suvive.
  Davenport, Todd " The Uneven Evoluion of Accounting Standard." American Baker, July 28, 2004. December 3,2014.
  Adler, Joe " New Accounting Plan Goes too Far, Banks Fear." American Baker, December 24, 2012, December 3, 2014