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Legacy standards: FASB Statements and Standards

The Financial Accounting Standards Board (FASB) is the designated US organisation for establishing standards of financial accounting and reporting. On this page we summarise the FASB standards and statements held in our collection for the period up to the enactment of the Accounting Standards Codification.

What's on this page?

  • FASB Standards and Statements
  • Exposure documents
  • Other FASB publications
  • Emerging Issues Task Force (EITF)
  • FASB journals

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FASB Standards and Statements

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.

FASB Statements of Financial Accounting Standards (SFAS)

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.

FASB Statements of Financial Accounting Concepts

Statements of Financial Accounting Concepts set out the fundamentals on which financial accounting and reporting standards are based.

FASB Interpretations

The interpretations clarify, explain or elaborate on FASB Statements, Accounting Research Bulletins or APB Opinions.

FASB consultations

FASB Exposure Drafts, Discussion Memorandums and Invitations to Comment

The library hold archived copies of older exposure drafts and consultations in an offsite store.

Other FASB publications

FASB Technical Bulletin

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.

FASB Research Reports and Special Reports

A selection of FASB Articles, Reports and Presentations from 2001 to 2007 are available through their website. The library hold copies of reports published prior to this date.

Emerging Issues Task Force (EITF)

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.

Sources for EITF publications

EITF Abstracts

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’.

EITF Minutes

We hold editions of the minutes and issues summaries for 1994 to 2004 in our off-site store. 

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.

FASB journals

FASB Report previously called Status Report

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.

The library holds copies of FASB Status Report from October 1973 to February 2002 and FASB Report 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. All copies of the journal are held in an offsite store and advance notice is required to consult them in person. Alternatively, the library enquiry team can search these on your behalf.

To find out how you can borrow books from the Library please see our guide to book loans.

You can obtain copies of articles or extracts of books and reports by post or email through our document supply service.

Can't find what you are looking for?

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 web chat or by email at library@icaew.com.

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