Accounting

The Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards of financial accounting that govern the preparation of financial reports by nongovernmental organizations. Those standards are officially recognized as authoritative by the Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants.

The GASB is the independent organization that establishes and improves standards of accounting and financial reporting for U.S. state and local government. This document serves as a high-level introduction to the work we do, the standards-setting process, website resources, and information about the members of the Board.

The IFRS Foundation is an independent, not-for-profit organisation. Our primary mission is to develop, in the public interest, a single set of high quality, understandable, enforceable and globally accepted International Financial Reporting Standards (IFRS) based upon clearly articulated principles.