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Definition of

Accounting Principles Board


former US organization with oversight of accounting in the United States, the professional organization which issued opinions that formed much of Generally Accepted Accounting Principles until 1973, when the Financial Accounting Standards Board (FASB) took over that role.

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Recommended Further Reading (Term count)
  • Effective Financial Reporting and Auditing: Importance and Limitations
    by Andrew Higson
    The major problem with financial reporting is that people with limited financial knowledge can look at a set of accounts and, by attempting to interpret the numbers, feel that they understand what is happening in an organization. While in simpler times this may have been true, the scale and complexity of modern business, together with the limitations of what can be portrayed in financial statements, means that today’s statements may have the...

Definitions of ’Accounting Principles Board’ and meaning of ’Accounting Principles Board’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Accounting Principles Board’ and other financial terms with our online QFINANCE Financial Dictionary.

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