"Financial Accounting Standards Board (FASB)" means the independent private-sector, not-for-profit organization that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow GAAP.

Source. #5455, eff 8-28-92; ss by #6808, eff 7-21-98; ss by #8687, eff 7-21-06; ss by #10652, eff 8-8-14 (from Rev 2201.07); ss by #14027, eff 7-16-24