Accounting: Accounting Standards

FASAB standards are Generally Accepted Accounting Principles (GAAP) for federal governmental entities only. The web site provides access to statements of financial standards, federal financial concepts, interpretations, and technical bulletins.

FASB, a private organization created in 1973, establishes standards for financial accounting and reporting for the private sector. Statements established by FASB are recognized as authoritative by the Securities and Exchange Commission (SEC) and by the American Institute of Certified Public Accountants. FASB's web site offers full-text, summary, and FASB statuses.

Established in 1984 as an independent organization, the Government Accounting Standards Board's (GASB) mission is to improve state and local governmental financial reporting. GASB standards are GAAP for state and local governmental entities only. The web site offers summary and status of GASB pronouncements, GASB Statements, GASB Concept Statements, and GASB Interpretations.

The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports.