Learning Exercise

Financial Accounting Standards Board (FASB) Overview

The assignment is to introduce students to the purpose and members of the Financial Accounting Standards Board (FASB) via the organization's Web site.
Course: Introductory Financial Accounting Course
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Financial Accounting Standards Board review of Web site materials see more

Exercise

From the initial http://www.fasb.org site navigate to the link labeled "Financial Accounting Standards Board". This site gives current information about FASB and upcoming events.

Next, link to the "FASB Facts" site (see the navigation bar on the left-hand-side of the Web page) and answer the questions below.

1) write a brief overview (6 to 10 sentences) of the Financial Accounting Standards Board (FASB).
2) paraphrase the FASB mission statement in three or less sentences
3) name three members on the Board and describe their experience that qualifies them for Board membership
4) name five members on the Financial Accounting Standards Advisory Council (the Council is differnet from the Board) and state where the member works and the type of work performed (manufacturing, education, consulting, etc.)

Audience

Technical Notes

students must be able to access the Web and navigate links

Requirements

none

Topics

FASB Mission and Members

Learning Objectives

Undertand the Financial Accounting Standards Board (FASB) mission and the members of the organization.