Briefly explain Accounting standards?
Full disclosure is the U.S. Securities and Exchange Commission's (SEC) requirement that publicly traded companies release and provide for the free exchange of all material facts that are relevant to their ongoing business operations
An accounting standard is a set of practices and policies used to systematize bookkeeping and other accounting functions across firms and over time. Accounting standards apply to the full breadth of an entity's financial picture, including assets, liabilities, revenue, expenses, and shareholders' equity.
