Historical frame
- Kind
- event
- Period
- 1959
- Jurisdiction
- United States
The new board combined work on specific accounting questions with research into broader accounting principles.
Questions to carry forward
- How can research support a decision about an accounting rule?
- Why might a full-time board operate differently from a part-time board?
Claim disciplineEvidence boundaries
- A broader mandate did not by itself solve concerns about independence, capacity, or timeliness.
The Accounting Principles Board (APB) replaced the Committee on Accounting Procedure in 1959. It was sponsored by the American Institute of Certified Public Accountants (AICPA). Its members served part time. The board issued Opinions on accounting questions and supported research into accounting principles.
The later Financial Accounting Standards Board (FASB) used full-time members and a different organizational structure. Replacing a board did not mean that all its accounting conclusions disappeared. When researching a current question, locate the applicable Codification guidance instead of assuming that a historical document still states the current requirement.