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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

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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

Mr. Pomerleau also lamented that by taxing book income, Congress was ceding some control over tax policy to the Financial Accounting Standards Board, an independent organization that sets accounting rules.

From New York Times Aug. 8, 2022

Supreme Court decisions and guidance from the Financial Accounting Standards Board and the SEC boil down to two main thresholds for determining when information is material to shareholders, Dubow said.

From Seattle Times Dec. 27, 2018

Financial Accounting Standards Board, known as FASB, imposed the new rule because it wanted financial statements to more accurately depict the timing, uncertainty and volatility of doing business.

From The Wall Street Journal Jun. 5, 2017

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