FASB Home

FASB: 50 Years of Standard Setting

In 2023, the FASB marks five decades of developing and improving accounting standards that provide useful information to investors and other allocators of capital.

Now Available: 2021 FASB Agenda Consultation Report

Learn how stakeholder feedback influenced the Board’s technical and research agendas and standard-setting process as of June 29, 2022.

For the Investor

A “one-stop shop” for investors, including the FASB’s most recent investor outreach report.

FASB Chair Quarterly Report

FASB Chair Richard R. Jones provides an update on quarterly activities as well as his reflections on FASB activities and priorities, including stakeholder outreach. These reports, including the most recent, are available in our Reference Library by quarter.

Post-Implementation Review

The FASB reviews major standards after issuance through the post-implementation review (PIR) process. The FASB is currently reviewing Credit Losses, Leases and Revenue Recognition.

XBRL: What Is It? Why the FASB? Who Uses It?

Find answers to why we use eXtensible Business Reporting Language (XBRL).

Reference Rate Reform

Reference rate reform refers to the global transition away from referencing the LIBOR—and other interbank offered rates—and toward new reference rates that are more observable or transaction-based.

Implementing New Standards

How the FASB positions organizations for a successful and smooth transition to new standards. Also includes specific implementation guidance for new major standards.

Private Company Council (PCC)

The Private Company Council improves the process of setting accounting standards for private companies. The PCC is the primary advisory body to the FASB on private company matters.

Video Vault

Get the latest on what’s going on, what coming up, and how to get involved in FASB projects. The Vault also features interviews with Board members, staff, and the latest Private Company Council news.

LATEST NEWS

FASB Issues New Chapter of Its Conceptual Framework: Recognition and Derecognition [08/30/23]

Media Advisory | Concepts Statement No. 8—Chapter 5 |

FASB Issues Standard That Improves Accounting for Joint Venture Formations [08/23/23]

Media Advisory | ASU 2023-05 |

Financial Accounting Foundation Announces Appointment and Reappointments to the Private Company Council (PCC) [08/22/23]

News Release |

FASB Issues 2023 Investor Outreach Report [08/17/23]

Media Advisory |

FASB Seeks Public Comment on Proposal to Improve Disclosures around Income Statement Expenses [07/31/23]

FASB Issues ASU 2023-04—Liabilities (Topic 405): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 121 [08/03/23]

ASU 2023-04 |

Financial Accounting Foundation Board of Trustees [07/28/23]

Notice of Meeting |

Standard-Setting Process Oversight Committee Meeting [07/28/23]

Notice of Meeting |

Financial Accounting Foundation Seeks Nominations for the Financial Accounting Standards Advisory Council [07/24/23]

Media Advisory |

FASB Issues ASU 2023-03—Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718): SEC SAB 120, SEC 3-24-2022 Staff Announcement, and ASR 280 [07/14/23]

ASU 2023-03 |

Financial Accounting Foundation Issues 2022 Annual Report—
FASB 50th Anniversary Edition [07/12/23]

Media Advisory | Annual Report |

FASB Seeks Public Comment on Proposal to Improve the Accounting for Purchased Financial Assets [06/27/23]

Media Advisory | Exposure Document |

FEATURED VIDEO

FASB Proposed Standard: Disaggregation—Income Statement Expenses

Learn how the FASB’s proposal would address investor feedback and how you can provide your input.