Search results
Results from the WOW.Com Content Network
The Financial Accounting Standards Board (FASB) is a private standard-setting body [1] whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest.
The Federal Accounting Standards Advisory Board (FASAB) is a United States federal advisory committee whose mission is to improve federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information. [3]
Accounting standards are currently set by the Financial Accounting Standards Board and were historically set by the American Institute of Certified Public Accountants (AICPA) subject to U.S. Securities and Exchange Commission (SEC) regulations. [7] Auditors took the leading role in developing GAAP for business enterprises. [8]
Accounting Standards Committee of Germany (ASCG, in German: DRSC) [4] India. National Advisory Committee on Accounting Standards with the aide and advice of Institute of Chartered Accountants of India and Institute of Cost Accountants of India; Getting replaced soon by NFRA in the Company Bill 2012. Iran. Accounting Standards Board [5] Malaysia ...
The Wheat Report recommended establishing a seven person Financial Accounting Standards Board (FASB) to replace the Accounting Principles Board, [1] which had been making rules for the profession since 1959. [2] The Wheat Report also recommended creating a Financial Accounting Foundation with nine salaried trustees to select board members of ...
The International Accounting Standards Board (IASB) is the independent accounting standard-setting body of the IFRS Foundation. The IASB was founded on April 1, 2001, as the successor to the International Accounting Standards Committee (IASC).
AICPA sets generally accepted professional and technical standards for CPAs in multiple areas. Until the 1970s, the AICPA held a virtual monopoly in this field. In the 1970s, however, it transferred its responsibility for setting generally accepted accounting principles (GAAP) to the newly formed Financial Accounting Standards Board (FASB).
Teresa S. Polley was president and chief operating officer of the Financial Accounting Foundation from 2008 to 2019. [1] The FAF is the private, non-profit organization responsible for administration and oversight of the Financial Accounting Standards Board, the Governmental Accounting Standards Board, and their advisory councils.