
APB (Accounting Principles Board)
The Accounting Principles Board (APB) was a professional organization in the United States that established accounting standards and guidelines from 1959 to 1973. Its goal was to improve and standardize financial reporting to ensure clarity, consistency, and trustworthiness in financial statements. The APB issued opinions that companies followed when preparing their financial reports, helping users like investors and creditors make informed decisions. It was eventually replaced by the Financial Accounting Standards Board (FASB), which continues to develop and update accounting standards today.