FASB
The U.S. standard setter whose Codification governs financial reporting by nongovernmental entities that follow U.S. GAAP.
Accounting institutions and oversight terms covering standard setters, advisory councils, disciplinary bodies, and public-interest oversight groups.
Accounting standard setters develop the rules used to recognize, measure, present, and disclose financial information. They are not interchangeable with securities regulators, audit firms, professional associations, or the laws that determine which entities must follow a framework.
Use this section to distinguish FASB for nongovernmental U.S. GAAP reporters, GASB for U.S. state and local governmental entities, and the IASB for IFRS Accounting Standards. The correct authority depends on the reporting entity, jurisdiction, regulator, reporting period, and effective guidance.
Before relying on any accounting source, identify whether it is an issued standard, an amendment, an interpretation, a proposal, conceptual guidance, or educational material. Then trace the conclusion to the current authoritative paragraph and applicable adoption rules.
These pages are educational and do not provide accounting, audit, legal, regulatory, tax, valuation, or investment advice.
Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.
The U.S. standard setter whose Codification governs financial reporting by nongovernmental entities that follow U.S. GAAP.
The U.S. standard setter for accounting and financial reporting by state and local governmental entities that follow GAAP.
The independent IFRS Foundation board that develops and publishes IFRS Accounting Standards for jurisdictions that adopt or permit them.