What does FASB mean in Accounting?
This page is about the meanings of the acronym/abbreviation/shorthand FASB in the Business field in general and in the Accounting terminology in particular.
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What does FASB mean?
- Financial Accounting Standards Board
- The Financial Accounting Standards Board is a private, not-for-profit organization whose primary purpose is to develop generally accepted accounting principles within the United States in the public's interest. The Securities and Exchange Commission designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. It was created in 1973, replacing the Committee on Accounting Procedure and the Accounting Principles Board of the American Institute of Certified Public Accountants.