Inside the FASB - How Financial Accounting Standards Are DevelopedCode: 27-INSIDEFASB

This course explores the Financial Accounting Standards Board (FASB), its mission, structure, and how it develops accounting standards. It helps CPAs understand the roles of the board and its advisory groups in shaping financial reporting. The course covers the standard-setting process, including how stakeholder input is gathered through comment letters and the post-implementation review process. It also explains the conceptual framework that guides standard development and how changes to accounting standards are communicated.