FASB

1. Financial Accounting Standards Board.

Example Sentences

A nonprofit called the Financial Accounting Foundation appoints the FASB’s board members and provides oversight.

Read more on The Wall Street Journal

The SEC enforces the FASB’s accounting standards for public companies, but has only an indirect involvement in its operations.

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The FASB, which receives funds from public-company fees, investment income and publication revenue, declined to comment.

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The International Accounting Standards Board, whose accounting rules are mandatory in the EU and Britain, is reviewing its goodwill rule, though last year its U.S. counterpart, FASB, decided to put aside its own review.

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And its members are well paid: Richard Jones, a former top executive of the accounting firm Ernst & Young who left to be the chair of FASB, was paid a base salary of $1 million last year, according to a tax filing.

Read more on New York Times