The most significant current source of generally accepted accounting principles is the

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The Financial Accounting Standards Board (FASB) is the most significant current source of generally accepted accounting principles (GAAP) in the United States. The FASB is a private, non-profit organization that sets accounting standards through a transparent and inclusive process, and its standards are recognized by the Securities and Exchange Commission (SEC) as authoritative for public companies. The American Institute of Certified Public Accountants (AICPA) and the Accounting Principles Board (APB) were previous sources of GAAP, but they have been superseded by the FASB.

The Most Significant Current Source of Generally Accepted Accounting Principles