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4 Cards in this Set

  • Front
  • Back
AICPA
American Institute of Certified Public Accountants
Committee on Accounting Procedure
1938-1959
Issued Accounting Research Bulletins
APB
Accounting Principles Board
1959-1973
Issued Opinions (1-31)
FASB
Financial Accounting Standards Board
1973-present
Replaced the APB
issues Statements of Financial Accounting Standard

FASB Details

Autonomous; independent of any other professional organization


Seven member of the FASB , from


public accounting


private industry


education


government


full time for 5 years
Standard-setting process open to public input and with due process