Financial Accounting Standards Board has published a proposed Accounting Standards Update (ASU) focused on targeted improvements to the FASB Accounting Standards Codification.
Published
Signal category
Research & Knowledge
Quote
“FASB has published a proposed Accounting Standards Update (ASU) focused on targeted improvements to the FASB Accounting Standards Codification”
— Financial Accounting Standards Board team
Company
Financial Accounting Standards Board
Standards That Work
- Industry
- Accounting
- Location
- Norwalk, US
- Company size
- 534 employees
Established in 1973, the FASB is the independent, private-sector organization that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The FASB comprises seven full-time board members that are appointed by the Financial Accounting Foundation (FAF) Board of Trustees. For more information about the FASB, visit www.fasb.org
Founded 1973