The Financial Accounting Foundation (FAF), organized in 1972, is the independent, private-sector organization with responsibility for the oversight, administration, and finances of the Financial Accounting Standards Board (FASB), and the Governmental Accounting Standards Board (GASB). The FASB was established by the FAF in 1973, and has been delegated the authority to establish standards of financial accounting and reporting for private-sector entities, including business and not-for-profit organizations. The GASB, organized by the FAF in 1984, has been delegated the authority to establish standards of financial accounting and reporting for state and local governmental entities. The pronouncements of both the FASB and GASB are recognized as generally accepted and authoritative.
Based in Norwalk, Connecticut, FAF provides online, CD-ROM, print, and subscription services comprising the accounting standards promulgated by the FASB and GASB. A major restructuring of the FASB pronouncements into a topically organized structure required the development of an online research system, the FASB Accounting Standards Codification?. In support of this change, along with a redesign of their web store, they implemented the AMB and WEB modules, which went into live production on July 1st.
Eric Burbeck served as the ACS project manager for this endeavor.