APB Opinion

DEFINITION of 'APB Opinion'

An authoritative pronouncement issued by the Accounting Principles Board. The official opinions were given on various accounting issues that required clarification or interpretation. The APB listed 31 separate opinions during its existence.

BREAKING DOWN 'APB Opinion'

The Accounting Principles Board was replaced by the Financial Accounting Standards Board (FASB) in 1973. The APB Opinions have likewise been superseded by the Generally Accepted Accounting Principals (GAAP). Therefore, they are now essentially obsolete.