FINANCIAL ACCOUNTING FOUNDATION ISSUES 2013 ANNUAL REPORT
Glimpse into “The Road Ahead” for the FAF, the FASB, and the GASB
Norwalk, CT, May 8, 2014—The Financial Accounting Foundation
(FAF) today issued its 2013 Annual Report,
available online at http://www.accountingfoundation.org/.
Themed as “The Road Ahead,” the 2013 Annual Report outlines the future
direction of the FAF and its standard-setting Boards, the Financial Accounting
Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).
As stated in the introduction:
The issues we face are varied and complex.
How should we continue to work toward more comparable global accounting
standards? To what degree should we provide accounting alternatives for private
companies while preserving the strength and consistency of GAAP? How can we make
the financial position of governments more transparent for taxpayers, bond
buyers and other users of financial statements?
The report also provides illustrative, high-level overviews of the
accomplishments of the FAF, the FASB, and the GASB, presented in a way that
gives even the most time-pressed readers a comprehensive overview of the year’s
These questions are examined from the perspective of the leaders of all
three organizations and in letters to stakeholders from FAF Board Chairman
Jeffrey J. Diermeier, FAF President & Chief Executive Officer Teresa S.
Polley, FASB Chairman Russell G. Golden, and GASB Chairman David A. Vaudt.
Other features in the 2013 Annual Report include:
Those interested in receiving a hard-copy version of the
may request one by e-mailing firstname.lastname@example.org.
Hard copies will be distributed in late May.
- Full-color photos featuring both current and past FAF, FASB, and GASB
leaders, staff, and other stakeholders
- Listings of all FAF, FASB, and GASB advisory groups, including the Private
Company Council and the Emerging Issues Task Force, and
- Complete 2013 management’s discussion and analysis and audited financial
For more information about
the FAF, visit http://www.accountingfoundation.org/.