<P> Accounting standards have historically been set by the American Institute of Certified Public Accountants ( AICPA ) subject to Securities and Exchange Commission regulations . The AICPA first created the Committee on Accounting Procedure in 1939 and replaced that with the Accounting Principles Board in 1959 . In 1973 , the Accounting Principles Board was replaced by the Financial Accounting Standards Board ( FASB ) under the supervision of the Financial Accounting Foundation with the Financial Accounting Standards Advisory Council serving to advise and provide input on the accounting standards . Other organizations involved in determining United States accounting standards include the Governmental Accounting Standards Board ( GASB ) , formed in 1984 ; and the Federal Accounting Standards Advisory Board ( FASAB ) , formed in 1990 . </P>
<P> Accounting standards have historically been set by the American Institute of Certified Public Accountants ( AICPA ) subject to Securities and Exchange Commission regulations . The AICPA first created the Committee on Accounting Procedure in 1939 and replaced that with the Accounting Principles Board in 1959 . In 1973 , the Accounting Principles Board was replaced by the Financial Accounting Standards Board ( FASB ) under the supervision of the Financial Accounting Foundation with the Financial Accounting Standards Advisory Council serving to advise and provide input on the accounting standards . Other organizations involved in determining United States accounting standards include the Governmental Accounting Standards Board ( GASB ) , formed in 1984 ; and the Federal Accounting Standards Advisory Board ( FASAB ) , formed in 1990 . </P>
generally accepted accounting principles ​ ( gaap ) are currently formulated by the
generally accepted accounting principles ​ ( gaap ) are currently formulated by the
Financial Accounting Standards Board Governmental Accounting Standards Board ( GASB ) Federal Accounting Standards Advisory Board ( FASAB )
Financial Accounting Standards Board Governmental Accounting Standards Board ( GASB ) Federal Accounting Standards Advisory Board ( FASAB )