The Financial Accounting Standards Board (FASB) is the designated US organisation for establishing standards of financial accounting and reporting. We provide a summary of FASB standards, statements and other publications available online and in our collection.
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On 1 July 2009 the FASB launched the Accounting Standards Codification as the single source of authoritative nongovernmental US GAAP as announced in the press release FASB Accounting Standards Codification Launches Today. The codification is effective for interim and annual periods ending after 15 September 2009.
The codification supersedes all existing non-SEC accounting standards (this includes FASB Statements, EITF abstracts and AICPA Statements of Position).
The following list of FASB standards, statements and publications was compiled before the release of the Accounting Standards Codification.
Statements of Financial Accounting Standards establish new standards or amend those previously issued.
The FASB website gives a full listing of Pre-Codification Standards with summaries and the full text of standards.
Statements of Financial Accounting Concepts set out the fundamentals on which financial accounting and reporting standards are based.
The interpretations clarify, explain or elaborate on FASB Statements, Accounting Research Bulletins or APB Opinions.
The FASB website lists Exposure documents open for comment which provides the full text of current exposure drafts and related documents. We hold archived copies of older exposure drafts and consultations in our store.
FASB Technical Bulletins are ‘staff documents that provide guidance on implementation and practice problems’. Technical bulletins published prior to the release of the Accounting Standards Codification are available on the FASB website page for Pre-Codification Standards.
The technical bulletins were also included in the Original Pronouncements looseleaf service which ceased publication in 2009. An archived copy of this looseleaf service is available in the Library collection.
A selection of FASB Articles, Reports and Presentations from 2001 onwards are available through their website. We hold copies of reports published prior to this date.
The EITF ‘was formed in 1984 in response to the recommendations of the FASB's task force on timely financial reporting guidance and an FASB Invitation to Comment on those recommendations’. The FASB website provides information on current issues and their status.
The EITF abstracts are a summary of proceedings of the FASB Emerging Issues Task Force and a full archive is available from the EITF abstracts section at Pre-Codification Standards.
We also hold the EITF abstracts in looseleaf format, which was updated until June 2005. The Introduction and Appendices give an outline of the EITF's history, work and membership. Appendix D in volume 2 contains staff announcements on ‘technical matters discussed by the EITF that have long-term relevance but do not relate specifically to a numbered EITF Issue’.
We hold editions of the minutes and issues summaries for 1994 to 2004 in our off-site store. Since 2003 EITF Meeting Materials and Minutes have been freely available through the FASB website.
If you would like to consult volumes from our collection in person please advise the Library staff ahead of your visit so that these can be retrieved from store.
The FASB Report is a monthly newsletter that includes developments in the standard-setting process and the status of technical projects. An archive of the main article from FASB report from 2001 to 2007 is available from FASB Articles, Reports, & Presentations.
We keep a collection of FASB Status Report from October 1973 to February 2002 when it changed its name to FASB Report, which we have kept from February 2002 to 2007. In May 2001, the Financial Accounting Standards Board started to produce Understanding the Issues to accompany Status Report. This is filed in the same box as Status Report within the Library. Older copies of the journal are held in store and advance notice is required if members wish to consult them in person or we can answer queries from them for remote users once they are retrieved from store.
The latest edition of Action Alert is available to view on the Action Alert section of the FASB website, along with an archive of previous editions dating back to January 2002. Action Alert is also available by email from the Financial Accounting Standards Board.
If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at email@example.com.