Accounting Principles Board - APB

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Definition of 'Accounting Principles Board - APB'

The prior authoritative body of the American Institute of Certified Public Accountants (AICPA). Formed by the American Institute of Certified Public Accountants in 1959, the Accounting Principles Board was replaced in 1973 by the Financial Accounting Standards Board (FASB). The purpose of the Accounting Principles Board was to issue pronouncements on accounting principles. Nineteen of the opinions released by the Accounting Principles Board still stand as part of the Generally Accepted Accounting Principles (GAAP).
Investopedia Says

Investopedia explains 'Accounting Principles Board - APB'

Between 1959 and 1973, the Accounting Principles Board was charged with creating accounting standards and issuing pronouncements related to accounting theory and practice. Unable to operate independently from the United States government, the Accounting Principles Board was dissolved to allow the smaller, fully-independent Financial Accounting Standards Board to operate more effectively.
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'Accounting Principles Board (APB)'

  • Accounting Basics: Financial Reporting | Investopedia

    http://www.investopedia.com/university/accounting/accounting6.asp
    ... The Committee's resources were limited and in 1959 the Accounting Principles Board
    (APB) was established within the AICPA to take over the rule-making function ...

  • CFA Level 1 Study Guide - Financial Statements - Financial ...

    http://www.investopedia.com/exam-guide/cfa-level-1/financial-statements/financial-reporting-enforcement.asp
    ... Finance; Retirement. Acronyms; Accounting; Bonds; Buzzwords; Currencies; Economics;
    Financial Theory; ... 9.22 Accounting For Leases. 10. Red ...

  • The Benefits And Value Of Stock Options

    http://www.investopedia.com/articles/optioninvestor/07/evolvingoptions.asp
    ... In 1972, the Accounting Principles Board (APB) issued opinion No.25, which called
    for companies to use an intrinsic value methodology for valuing the stock ...

  • Financial History: The Rise Of Modern Accounting

    http://www.investopedia.com/articles/tax/08/accounting-taxes.asp
    ... the current Financial Accounting Standards Board (FASB) came ... The Future of Accounting
    Accounting, as a practice, has several guiding principles that will ...

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