The Ultimate Legal Dictionary
PracticePanther compiled a list of the legal terms and definitions every
attorney, paralegal, and law student needs to know when running a law firm.
Financial Accounting Standards Board
DEFINITION
Established in 1973 the Financial Accounting Standards Board or FASB is a board comprised of seven accounting professionals who set These standards are known as generally accepted accounting principles(GAAP), and are recognized by the Securities and Exchange Commission, under the authority of which the FASB was created.
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