====== Financial Accounting Standards Board (FASB) ======
[[dido:public:ra:xapend:xapend.a_glossary:start| Return to Glossary ]]

The **Financial Accounting Standards Board (FASB)** is an independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States, following [[dido:public:ra:xapend:xapend.a_glossary:g:gaap]]. The FASB was formed in 1973 to succeed the Accounting Principles Board and carry on its mission. It is based in Norwalk, Conn.

  * The Financial Accounting Standards Board (FASB) sets accounting rules for public and private companies and nonprofits in the United States.
  * A related organization, the Governmental Accounting Standards Board (GASB), sets rules for state and local governments.
  * In recent years, the FASB has been working with the International Accounting Standards Board (IASB) to establish compatible standards worldwide.

Source: [[https://www.investopedia.com/terms/f/fasb.asp ]]


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