What is GAAP? • What is GAAP?
• Who establishes GAAP?
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Governing Structure of Standard- Setting Boards
FinancialAccountingFoundation (FAF)
Financial Accounting Standards AdvisoryCouncil
Financial Accounting Standards Board(FASB)
Governmental Accounting Standards Board(GASB)
Governmental Accounting Standards AdvisoryCouncil
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BlueBird CPAs
14
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