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BUS 321 Intermediate Accounting October 6, 2016Name 1. SEC What does SEC stand for?2. FINANCIAL REPORTING What is the Objective of Financial Reporting? Generally Accepted Accounting Principles 3.
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SEC stands for Securities and Exchange Commission. It is a government agency responsible for regulating securities markets in the United States.
Companies that want to offer their securities to the public are required to file with the SEC.
Companies can fill out SEC forms online through the SEC's EDGAR system.
The purpose of the SEC is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
Companies are required to report financial information, business operations, management, and other material facts to the SEC.
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