The Accounting Principles Board (APB) was a board of the American Institute of Certified Public Accountants (AICPA) that issued a series of accountant's opinions constituting much of what is known as Generally Accepted Accounting Principles (GAAP) from 1959 to 1973.
The Financial Accounting Standards Board (FASB) is an independent board responsible for establishing and interpreting Generally Accepted Accounting Principles (GAAP).
