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Financial Accounting Standards Board

American  

noun

  1. an independent organization founded in 1973, responsible chiefly for establishing generally accepted accounting principles. FASB


Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

New requirements set by the Financial Accounting Standards Board in 2023 recently took effect.

From The Wall Street Journal • Jan. 27, 2026

In the 1970s, a new nonprofit, the Financial Accounting Standards Board, was established with government endorsement to replace the discredited Accounting Principles Board.

From Barron's • Oct. 13, 2025

Large companies also could try to lobby the nongovernmental Financial Accounting Standards Board for favorable changes to the rules for calculating book income.

From Reuters • Aug. 11, 2022

Opponents of the new tax have expressed concerns that it would give more control over the U.S. tax base to the Financial Accounting Standards Board, an independent organization that sets accounting rules.

From New York Times • Nov. 18, 2021

Since 2007, publicly traded firms have been required to estimate the likelihood of each tax benefit they take being rejected or approved by authorities, according to the Financial Accounting Standards Board.

From Seattle Times • Jul. 14, 2021

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