Financial Accounting Standards Board
The Financial Accounting Standards Board (FASB) is an independent, private‑sector organization that sets and maintains the Generally Accepted Accounting Princip
Company facts
- Founded
- 1973
- Employees
- 200
- Headquarters
- United States
- Type
- Non-Profit
About
The Financial Accounting Standards Board (FASB) is an independent, private‑sector organization that sets and maintains the Generally Accepted Accounting Principles (GAAP) used by public and private companies, as well as not‑for‑profit entities. Recognized by the U.S. Securities and Exchange Commission and authoritative for state Boards of Accountancy and the American Institute of CPAs, FASB’s standards provide a consistent framework for financial reporting that delivers reliable, decision‑useful information to investors and other stakeholders. The board operates through a transparent, inclusive process and is composed of seven full‑time members appointed by the Financial Accounting Foundation, ensuring that its standards reflect broad professional consensus and uphold the integrity of financial markets.