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The FASB establishes and improves standards of financial accounting and reporting that foster financial reporting by nongovernmental entities that provides decision-useful information to investors and other users of financial reports.
The FASB Accounting Standards Codification ® is the single official source of authoritative, nongovernmental U.S. generally accepted accounting principles (GAAP). Read More.
The FASB Accounting Standards Codification® (FASB Codification) is the sole source of authoritative GAAP other than SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standards Update (Update or ASU) to communicate changes to the FASB Codification, including changes to non-authoritative SEC content.
Established in 1972, the FAF is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut, responsible for the oversight, administration, financing, and appointment of the FASB and the Governmental Accounting Standards Board (GASB).
Browsing by Topic, Searching, and Go To navigation. Show All in One Page feature for viewing user-selected excerpts. Cross Reference report and archive to locate and access legacy standards. Various Printing options, including printer-friendly utility for viewing source references.
Board Member. Susan M. Cosper (Sue) joined the Financial Accounting Standards Board (FASB) on May 1, 2019, and was later reappointed to a second term that extends to June 30, 2029. Ms. Cosper also serves as the FASB liaison to the Private Company Council (PCC). Ms.
Concepts Statements guide the Board in developing sound accounting principles and provide the Board and its constituents with an understanding of the appropriate content and inherent limitations of financial reporting.
Overview. On December 13, 2023, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update that addresses the accounting for and disclosure of crypto assets.
The FASB Accounting Standards CodificationTM is the source of authoritative generally accepted accounting principles (GAAP), other than those issued by the Securities and Exchange Commission, recognized by the FASB to be applied by nongovernmental entities.
About the FASB. Established in 1973, the Financial Accounting Standards Board (FASB) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted ...