Accounting Principles Board
- Accounting Principles Board
The Accounting Principles Board (APB) is the former authoritative body of the American Institute of Certified Public Accountants (AICPA). It was created by the American Institute of Certified Public Accountants in 1959 and issued pronouncements on accounting principles until 1973, when it was replaced by the Financial Accounting Standards Board (FASB).
The APB was disbanded in the hopes that the smaller, fully-independent FASB could more effectively create accounting standards. The APB and the related Securities Exchange Commission) were unable to operate completely independently of the U.S. government.[cite journal|title=The marketing of accounting standards|last=Horngren|first=Charles T|journal=The Journal of Accountancy|issue=October 1973|pages=61–66] According to the SEC, "the overall record of the APB was a reasonably good one, but it seems likely that a smaller full-time body directly in control of its research holds promise of more success."][cite journal|title=Some general and specific thoughts on the accounting environment|author=John C. Burton, Chief Accountant, SEC|journal=The Journal of Accountancy|issue=October 1973|pages=40–46] ]Of the 31 APB opinions and four statements, several were instrumental in improving the theory and practice of significant areas of accounting. Many have been superseded by FASB pronouncements; 19 opinions still stand as part of generally accepted accounting principles:[cite book|title=The Ultimate Accountants' Reference: Including GAAP, IRS & SEC Regulations, Leases, and More|last=Bragg|first=Steven M.|year=2003|publisher=John Wiley & Sons, Inc.] ]Notes
Wikimedia Foundation.
2010.
Look at other dictionaries:
Accounting Principles Board - APB — The prior authoritative body of the American Institute of Certified Public Accountants (AICPA). Formed by the American Institute of Certified Public Accountants in 1959, the Accounting Principles Board was replaced in 1973 by the Financial… … Investment dictionary
Accounting Principles Board — APB In the USA, the forerunner of the Financial Accounting Standards Board. It was established by the Institute of Certified Public Accountants in 1959 and issued Opinions until 1973. Several of the 31 Opinions issued significantly improved the… … Accounting dictionary
Accounting Principles Board — APB The forerunner to the *Financial Accounting Standards Board (EASB). Established in 1959 by the *American Institute of Certified Public Accountants, the APB functioned until 1973. (It replaced the Committee on Accounting Procedure, which had… … Auditor's dictionary
Accounting Principles Board (APB) — 1959 mit dem Zweck der Erarbeitung von Rechnungslegungsgrundsätzen für börsennotierte Unternehmen vom ⇡ American Institute of Certified Public Accountants gegründet. Zentrale Verlautbarungsart des APB war die APB Opinion. Einzelne APB Opinions… … Lexikon der Economics
Accounting Standards Board — The role of the Accounting Standards Board (ASB) is to issue accounting standards in the United Kingdom. It is recognised for that purpose under the Companies Act 1985. It took over the task of setting accounting standards from the Accounting… … Wikipedia
Generally Accepted Accounting Principles (United States) — In the U.S., generally accepted accounting principles, commonly abbreviated as US GAAP or simply GAAP, are accounting rules used to prepare, present, and report financial statements for a wide variety of entities, including publicly traded and… … Wikipedia
Financial Accounting Standards Board — Infobox Non profit Non profit name = Financial Accounting Standards Board Non profit Non profit type = founded date = 1973 founder = location = Norwalk, Connecticut origins = Board Members = Robert H. Herz, ChairmanGeorge J. Batavick,… … Wikipedia
United States Generally Accepted Accounting Principles — Die United States Generally Accepted Accounting Principles (US GAAP [gæp]; deutsch: „Allgemein anerkannte Rechnungslegungsgrundsätze der Vereinigten Staaten “) sind US amerikanische Rechnungslegungsvorschriften und allgemein anerkannte… … Deutsch Wikipedia
Financial Accounting Standards Board — FASB The U.S. accounting standards setting organization. Based in Norwalk, CT, the FASB was established in 1973 as successor to the *Accounting Principles Board. The FASB’s Web site states that its mission is to establish and improve standards of … Auditor's dictionary
Financial Accounting Standards Board (FASB) — 1. Charakterisierung: Als Reaktion auf die Weltwirtschaftskrise in den frühen 30er Jahren wurde in den USA durch den Securities Act von 1933 die Börsenaufsichtsbehörde ⇡ SEC gegründet. Diese hat u.a. die Aufgabe, Rechnungslegungsvorschriften für… … Lexikon der Economics
