Emerging Issues Task Force (EITF)
An organization formed in 1984 by the Financial Accounting Standards Board (FASB) to provide assistance with timely financial reporting. The EITF holds public meetings in order to identify and resolve accounting issues occurring in the financial world. Investopedia Says:
This group consists mainly of accountants from large public firms, but it also includes the chief accountant of the SEC on its board. The main purpose of the task force is to identify emerging issues and resolve them with a uniform set of practices before divergent methods arise and become widespread. Related Terms:
Accountant
Financial Accounting Standards Board - FASB
Generally Accepted Accounting Principles - GAAP
Securities and Exchange Commission - SEC |