The most important U.S. private accounting standard-setting organizations are the Financial Acounting Standards Board and the Governmental Accounting Standards Board.

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The Financial Accounting Standards Board (FASB) is the primary private accounting standard-setting body in the United States for non-governmental organizations, while the Governmental Accounting Standards Board (GASB) is the primary standard-setting body for state and local governments. These two organizations are considered the most important private accounting standard-setting organizations in the U.S.

The Most Important U