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   Financial Accounting Standard (FAS)
   















 

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Financial Accounting Standard (FAS)

The letters FAS followed by a number (i.e., FAS 109) refer to a Statement of Position from the Financial Accounting Standards Board (FASB). These statements provide definitive accounting guidance on many topics for U.S.- based entities. Also called Statement of Financial Accounting Standards (SFAS). See also Exposure Draft (ED), Statement of Position (SOP).

For the latest regulatory developments on disclosure, see "Key Risk Concepts: Accounting & Disclosure."

See also: Statement of Financial Accounting Standards (SFAS)

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