Examples of FASB in a sentence
Financial Accounting Standards Board (FASB): FASB is the independent, private‐sector, not‐for‐ profit organization that establishes financial accounting and reporting standards for public and private companies and not‐for‐profit organizations that follow Generally Accepted Accounting Principles (GAAP).
The records shall be maintained in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codificat ion, Public Company Accounting Oversight Board (PCAOB) Accounting Standards Codification, or Governmental Accounting Standards Board (GASB) Accounting Standards Codification, as applicable, and any related AICPA Industry Audit and Accounting Guides.
On December 31, 2000, the Company adopted the disclosure requirements of SFAS No. 140, "Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities--a replacement of FASB Statement No. 125." On April 1, 2001, the Company adopted the remaining provisions of this standard, as required.