Accounting Principles Board
APB The forerunner to the *Financial Accounting Standards Board (EASB). Established in 1959 by the *American Institute of Certified Public Accountants, the APB functioned until 1973. (It replaced the Committee on Accounting Procedure, which had operated from 1936 to 1959.) The APB issued accounting standards in the form of Opinions and Statements. On its creation in 1973, the FASB adopted the APB’s pronouncements, and has gradually revised or replaced them with its own standards.

Auditor's dictionary. 2014.

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