Briefly define and/or discuss the terms listed below. Use your own words. Use the background material, but it is also acceptable to use the library or other Internet resources. Explain why these conc

Briefly define and/or discuss the terms listed below. Use your own words. Use the background material, but it is also acceptable to use the library or other Internet resources.  Explain why these concepts are important for financial accounting.

• Generally Accepted Accounting Principles (US GAAP);
• Financial Accounting Standards Board (FASB);
• Securities and Exchange Commission (SEC);
• Certified Public Accountant (CPA)
• Annual Report
• 10-K 

Two or three sentences are sufficient to explain each of the six items. Do not use an essay format.