The Accounting Principles Board (APB) was the authoritative body that preceded the Financial Accounting Standards Board (FASB) in the USA. Established in 1959 by the American Institute of Certified Public Accountants (AICPA), it issued 31 Opinions that significantly contributed to the theory and practice of accounting and continue to influence Generally Accepted Accounting Principles (GAAP).
In the USA, a Discussion Memorandum is a preliminary document published by the Financial Accounting Standards Board (FASB) before issuing a Statement of Financial Accounting Standards (SFAS). It specifies the topic under consideration, describes the alternative accounting treatments, and explains the perceived advantages and disadvantages of each treatment.
The Emerging Issues Task Force (EITF) was formed by the Financial Accounting Standards Board (FASB) with the purpose of providing assistance in identifying and implementing reporting issues in new and developing financial practices.
The Statement of Financial Accounting Concepts (SFAC) is a series of reports issued by the Financial Accounting Standards Board (FASB) to outline the foundational concepts underpinning financial accounting and reporting in the United States.
