What are the Various Objectives and Functions of FASB?
The Financial Accounting Standard Board (FASB) was founded in 1973 as an independent, private-sector, not-for-profit organisation. It establishes accounting principles and accounting procedures. The body of this principle and procedure is called General Accounting-Accepted Principles (GAAP). The Security and Exchange Commission and the Financial Accounting Foundation regulate FASB. Understanding the various objectives and functions of […]