What is the Financial Accounting Standards Board?
The Financial Accounting Standards Board, sometimes referred to as the FASB is a private organization whose purpose is to develop generally accepted accounting principles (GAAP) within the United States.
They are also responsible for issuing accounting standards which offer guidance and rules on the preparation of financial statements in the US.
Additional information on the Financial Accounting Standard Board can be found in our accounting principles tutorial.
For further information see the Wikipedia definition.
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