FASB
The Financial Accounting Standards Board (FASB) is a private standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. The FASB replaced the American Institute of Certified Public Accountants' (AICPA) Accounting Principles Board (APB) on July 1, 1973. The FASB is run by the nonprofit Financial Accounting Foundation.
Recent news mentioning FASB
- — FAF picks Hillary H. Salo as next chair of FASB
- — FASB invites opinion on cash equivalents and digital asset draft rules
- — FASB taps vice chair, former KPMG partner for next chair
- — SEC, FASB advance separate crypto proposals as Clarity Act stalls
- — FASB, ASBJ to advance accounting standard-setting cooperation
- — FASB votes to tackle improving goodwill accounting