FASB Insights | Sumble

What is FASB?

FASB, the Financial Accounting Standards Board, is an independent, private-sector organization that establishes financial accounting and reporting standards for U.S. companies and organizations. These standards, known as Generally Accepted Accounting Principles (GAAP), govern how financial information is prepared and presented. FASB aims to improve financial reporting by providing useful information to investors and other users of financial statements.

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What other technologies are related to FASB?

FASB Competitor Technologies

GASB

GASB (Governmental Accounting Standards Board) sets accounting and financial reporting standards for U.S. state and local governments, while FASB (Financial Accounting Standards Board) sets the standards for public and private companies and not-for-profit organizations. They are thus competitors, as they both define standards for different groups.

mentioned alongside FASB in 26% (124) of relevant job posts

GAAP

GAAP (Generally Accepted Accounting Principles) are the standards that FASB sets. So while GAAP is the result of FASB's work, other frameworks outside of FASB exist, making this a competing, though highly related, standard.

mentioned alongside FASB in 3% (135) of relevant job posts