Financial Accounting Standards Board FASB

{
  "id": "MLC-T-INS-001499",
  "term": "Financial Accounting Standards Board FASB",
  "field": "Insurance and risk management",
  "definition": "The independent organization in the United States responsible for establishing and improving generally accepted accounting principles (GAAP). FASB issues accounting standards that govern how companies report financial information, including specific rules for insurance companies regarding revenue recognition, reserves, and investments. Its pronouncements significantly impact the financial reporting of insurers.",
  "url": "https://mlchart.com/terminology/insurance/financial-accounting-standards-board-fasb/"
}