FASB

FASB, or the Financial Accounting Standards Board, is an organization that sets the rules for how companies must report their financial information in the United States. Its goal is to ensure that financial statements are consistent, transparent, and useful for investors, creditors, and other stakeholders making economic decisions. FASB develops and maintains accounting standards known as Generally Accepted Accounting Principles (GAAP), providing a common language for financial reporting that helps create trust and clarity in the financial markets.