What is FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)?

A US selfregulatory advisory panel that is responsible for creating and promulgating accounting standards for certified public accountants via the Statements of Financial Accounting Standards, the core of US GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). See also INTERNATIONAL ACCOUNTING STANDARDS BOARD.

More On This Topic



Link to This Definition
Did you find this definition of FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary