Investor Glossary-financial accounting standards boardInvestor Glossary-financial accounting standards boardInvestor Glossary-financial accounting standards boardInvestor Glossary-financial accounting standards boardInsightful stock market charts - Click here
investor
Categories    # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Financial Accounting Standards Board

The HTML to link to this page
 

Since 1973, the Financial Accounting Standards Board (FASB) has had primary responsibility for establishing financial accounting and reporting standards for the private sector in the United States. The pronouncements of the Financial Accounting Standards Board are considered authoritative by both the Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants (AICPA). Thus the work of the Financial Accounting Standards Board is a cornerstone of Generally Accepted Accounting Principles (GAAP). An important component of the Financial Accounting Standards Board is its Emerging Issues Task Force, which is charged with identifying important issues that the Financial Accounting Standards Board needs to consider. The Financial Accounting Standards Board has seven full-time members, who are required to cut all ties to the firms or organizations they previously served. The Financial Accounting Standards Board is also assisted by about 70 professional employees. Despite its apparent independence and professional support, the Financial Accounting Standards Board receives substantial criticism from legislators, executives, and business critics. But given the controversial issues the Financial Accounting Standards Board decides, criticism may be impossible to avoid.



Rate this Financial Accounting Standards Board definition...

Learn about investing with the Investor Glossary Term of the Day


Click here for insightful stock market charts. Where is the market headed? The answer may surprise you. Find out
with the exclusive & Barron's recommended charts of Chart of the Day.


Popular Terms: limit order, EBITDA, reverse mortgage, per diem, balance sheet, APR, option premium, cancelled check, required rate of return, debt service coverage, covered put, wholly-owned subsidiary, Key Rate Duration, dividends payable, liquidity ratio, deferred revenue, labor relations, quality assurance, diluted share, margin rate, 144a, inflation, ex-dividend, in escrow, risk management, retained earnings, deferred tax, FICO score, 401a, stock split, 1035 exchange, phantom income, command economy, FTSE, minority interest, irrevocable trust, VIX, stock market close, average price per share, Zero Cost Collar, open position, 1031 exchange, current ratio, ex-dividend date, implied volatility, annual return, real GDP, LIBOR, class C shares


Accounting | Banking | Bonds | Brokers | Economy | Futures | Mutual Funds | Options | Real Estate | Retirement | Stocks | Taxes | Technical Analysis
Home | Term of the Day | Suggest a Term | Chart of the Day | Dogs of the Dow
©2004-2016 Investor Glossary - All rights reserved - Terms of Use