Definition

Financial Accounting Standards Board (FASB)

Financial Accounting Standards Board (FASB) is the organization that interprets and modifies GAAP in the United States.


Financial accounting standards board (FASB) is a group created in 1973 through the joint efforts of the American Institute of Certified Public Account ants and several other accounting organizations to be the overall rule-making body for the accounting profession.

Share it:  Cite

More from this Section

  • Click-through rate
    Click-through rate is a number of visitors who click on a Web banner ad. ...
  • Trends
    Trends are the consumer and business tendencies or patterns that firms can exploit to ...
  • Theory Z
    Theory Z is the assumption that employee involvement is key to productivity and quality ...
  • Effects of Stock Dividends
    How do stock dividends affect stockholders’ equity? They change the composition of stockholders’ ...
  • Correcting entries
    Correcting entries refer to entries to correct errors made in recording transactions. ...