APB
Financial Dictionary — Accounting Profession
Definition
Acronym for Accounting Principles Board or an Accounting Principles Board opinion (GAAP).
Detailed Explanation
APB was the Accounting Principles Board in the U.S. that issued guidance before it was replaced by FASB. The term may also refer to APB opinions within U.S. GAAP history.
Common Uses
- Used to explain the concept in accounting and business contexts.
- Used when training staff or documenting procedures and policies.
- Used when training staff or documenting procedures and policies.
Practical Example
- Example: Teams reference **APB** when defining terms in manuals, policies, or training materials.
Why This Term Matters
- Why it matters: Improves clarity and consistency across documentation and decision-making.