The Financial Accounting Standards Board (FASB) is an independent structure that establishes and improves standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors and users of financial information.  There are seven board members, who are appointed by the Financial Accounting Foundation. Board members are appointed for five-year terms and are eligible for reappointment to one additional five-year term.  Robert Herz presides as the current chairman. FASB maintains a small staff of about 70 employees.

 

 

FASB Delays Accounting Rule (08/04/08)

 

Objective of Financial Reporting and Qualitative Characteristics: Some Comments (07/2008)

 

AICPA Calls for IFRS Timeline (06/18/08)

 

FASB Issues Exposure Draft on Accounting for Hedging Activities (06/09/08)

 

FASB Issues Exposure Draft on Disclosure of Certain Loss Contingencies (06/06/08)

AICPA Votes to Recognize IASB as Standard Setter (05/21/08)

 

FASB Issues GAAP Hierarchy (05/12/08)

 

Roadmap for Private Company Accounting Standards to Be Addressed  (04/23/08)

 

FAF, FASB to Host Global Standards Forum (04/18/08)

 

SEC Content Released Onto FASB Codification (04/04/08)

 

FASB Issues Derivatives Statement (03/20/08)

 

FASB Proposes Postretirement Disclosures (03/20/08)

 

FASB to Be Downsized (02/27/08)

 

Demand for Principles-Based Accounting: The American Accounting Idol (02/25/08)

 

FASB Issues Proposal on Not-for-Profit Endowments (02/25/08)

 

Lawmaker Seeks More Details on Off-the-Books Dealings  (2/13/08)

 

FASB Launches GAAP Codification System (01/16/08)

 

IASB Revises Business Combinations Standard (01/14/08)

 

FASB's Herz Chooses IFRS Over GAAP (10/01/07)

 

SEC Appoints Financial Reporting Committee Members (08/01/07)

 

FASB Issues Proposed Staff Position on FAS 140-d (07/31/07)

 

FASB Proposal Clarifies Hedge Fund 'Shortcut Method' (07/27/07)

 

Ease FIN 48 Costs With Training, Guidance, Say Tax Execs (07/10/07)

 

SEC Launches Effort to Simplify Accounting, Give Companies Clearer Guidelines (06/28/07)

 

FASB Support Fees Total $22M in '06 (06/04/07)

 

Few Companies Ready for Fair Value Measurement (05/18/07)

 

FASB Issues Exposure Draft on Financial Guarantee Insurance Contracts (04/20/07)

 

FAF Warns of SOX Compliance Scam (04/20/07)

 

Few CFOs Will Use Fair Value Option (04/20/07)

 

FASB Names Trott's Replacement (04/10/07)

 

FASB: SEC to Get More Input on Appointments (03/29/07)

 

FASB Private Company Committee Names Members (03/09/07)

 

Bill Requires Testimony From Accounting Regulators (03/02/07)

 

FASB Chairman Herz Reappointed to Second Term (01/24/07)

 

FASB Won't Postpone Rule on Uncertain Positions (01/18/07)

 

FASB Seeks Public Input on Valuation Guidance (01/17/07)

 

FASB Establishes Investors Technical Advisory Committee (01/03/07)

 

IASB, FASB Announce Working Group Members (12/28/06)

 

FASB Appoints Chair to New Private Company Committee (12/12/06)

 

FASB Proposes Improved Derivatives, Hedging Disclosures (12/11/06)

 

GASB Requires Governments to Come Clean on Pollution Remediation Costs (12/04/06)