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   Financial Accounting Standards Board (FA...
   















 

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Financial Accounting Standards Board (FASB)

The professional quasi-regulatory organization with primary responsibility for determination of financial reporting standards in the United States. The Securities and Exchange Commission has the power to override FASB standards. See Exposure Draft (ED), Statement of Position (SOP).

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

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