Financial Accounting Standards Board

American  

noun

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

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Example Sentences

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

From The Wall Street Journal

The Financial Accounting Standards Board, which sets accounting rules for U.S. companies and nonprofits, has no projects on the standard-setting agenda to explore requiring a breakdown of construction in progress, Chair Rich Jones said.

From The Wall Street Journal

The rule, issued in 2004 by the Financial Accounting Standards Board, requires firms to charge stock options against earnings.

From The Wall Street Journal

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

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