Research Guides: Accounting Information: Standards

Standards

These organizations set accounting, auditing, and other standards.

AICPA & CIMA
The American Institute of Certified Public Accountants and the Chartered Institute of Management Accountants merged in 2017 to form the AICPA & CIMA.
FASAB
Federal Accounting Standards Advisory Board - http://www.fasab.gov/
FASB
Financial Accounting Standards Board - http://www.fasb.org/

As of July 1, 2009 FASB Accounting Standards Codification™ (FASB Codification) is the single official source of authoritative, nongovernmental US generally accepted accounting principles (U.S. GAAP)
Professional View of FASB Codification
Accounting students and faculty can sign up for access to Professional View of FASB Codification (requires subscription via Accounting Department).
GASB
Governmental Accounting Standards Board - http://www.gasb.org
Sets authoritative standards for US government accounting.
IASB
International Accounting Standards Board - http://www.iasb.org
The leading promulgator of international accounting standards (IFRS). The IASB is the independent standard-setting body of the IFRS Foundation.
IFAC
International Federation of Accountants - http://www.ifac.org/
IMA
Institute of Management Accountants- http://www.imanet.org/
PCAOB
Public Company Accounting Oversight Board - http://www.pcaobus.org/
Entity created by Sarbanes Oxley Act of 2002 directed to oversee the auditors of public companies.
SEC
Securities and Exchange Commission - http://www.sec.gov
SEC duties include overseeing private regulatory organizations in the accounting and auditing fields.

IFRS

What is IFRS? And why should you care?

IFRS stands for International Financial Reporting Standards which are a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements. About 90 countries currently conform and the US, through the SEC, is working towards deciding if IFRS will be used here as well.

IFRS links of use:

IFRS Foundation
Provides extensive information (both free and for fee) on IFRS including full-text of the standards. Some resources require free registration.
IFRS FAQs from AICPA
Short answers to your basic IFRS questions.
International Convergence of Accounting Standards
FASB website with information on the goal and path of converging accounting standards.

Last Updated: Sep 26, 2023 10:03 AM