Accounting Standard Organizational Structure: the accounting diagram you are looking for

Accounting Standard Organizational Structure is develop to make sure the financial condition can be recorded properly and fairly. In order to do that, the structure must be made and maintained. The structure of Accounting Standard Organization can be described as follows:

At the top of the structure, there is FAF or Financial Accounting Foundation.

The purpose of this foundation is to select members of FASB (Financial Accounting Standard Board) and GASB (Governmental Accounting Standard Board) and their advisory councils. Beside selecting members of FASB and GASB, the Financial Accounting Foundation has also to fund their activities and to give them and exercise them (FASB and GASB) a general oversight.

Right under Financial Accounting Foundation, there are Financial Accounting Standard Board (FASB) and Governmental Accounting Standard Board (GASB).

The purpose of Financial Accounting Standard Board (FASB) is establish and to improve standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors and users of financial accounting information.

The purpose of Governmental Accounting Standard Board is to establish and improve standards of financial accounting for state and local government.

To help Financial Accounting Standard Board and Governmental Accounting Standard Board, there are also staffs and task forces. Their role is to assists respective Board on reporting issues by performing research, analysis and writing functions.

Right below the FASB (Financial Accounting Standard Board), there is FASAC (Financial Accounting Standard Advisory Council). The purpose of FASAC is to consult on major policy issues, technical issues, project priorities and selection and organization of task forces.

The same thing with FASB, right below the GASB (Governmental Accounting Standard Board) there is GASAC (Governmental Accounting Standard Advisory Council) which has the same purpose with FASAC that is to to consult on major policy issues, technical issues, project priorities and selection and organization of task forces.

The diagram of Accounting Standard Organizational Structure can be seen above.