Posted by Lynne on Thursday, January 21, 2010 at 3:41pm.
http://answers.yahoo.com/question/index?qid=20090117055429AAZDudG
The function of the SEC is to define accounting terms and to prescribe accounting principles for companies under its jurisdiction, determines the form and content of acccounting reports that aare required to be filed with the SEC and it regulates the financial reporting of publicly hels corporations (basically, companies whose stocks are traded in the secrities exchanges and over-the-counter markets).
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