Overview: Accounting & Standards

Accounting Standards

The accounting standards developed and established by the FASB and the GASB are used to communicate information about the financial condition of a company, public or private, a not-for-profit organization, or a state or local government. >> More

Independence & Due Process

The FASB and the GASB are committed to following an open, orderly process for setting standards. Their comprehensive due process procedures permit timely, thorough and open study of financial accounting and reporting issues. >> More

How We're Funded

The FAF supports the work of the FASB and the GASB with a combination of accounting support fees, subscription and publication revenue, and investment income. >> More

  • Accounting Standards The rules that determine how financial information is shared
  • Independence & Due Process An open, orderly process for setting standards
  • How We're Funded A combination of accounting support fees, subscription/publication revenue, & investment income

Accounting Standards

The accounting standards developed and established by the FASB and the GASB are used to communicate information about the financial condition of a company, public or private, a not-for-profit organization, or a state or local government.
>> More


Independence & Due Process

The FASB and the GASB are committed to following an open, orderly process for setting standards. Their comprehensive due process procedures permit timely, thorough and open study of financial accounting and reporting issues.
>> More



What We Do: FAF

The FAF may be the most important financial oversight body most Americans don’t know about.
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What We Do: FASB

The mission of the FASB is to establish and improve financial accounting and reporting standards to provide decision-useful information to investors and other users of financial reports.
>> More

What We Do: GASB

The GASB’s mission is to establish standards for financial reporting that provide decision-useful information to assist individuals in assessing a government’s financial condition and performance.
>> More


How We're Funded

The FAF supports the work of the FASB and the GASB with a combination of accounting support fees, subscription and publication revenue, and investment income.
 >> More