1 jan 1973 ano - Creation of the FASB

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Sometime in the year 1973, the Financial Accounting Standards Board (FASB) was created under the American Institute of Certified Public Accountants. The FASB is a non-profit, private, and independent standard-setting board that would assume the responsibility of setting and monitoring accounting standards within the U.S. The main goal of the FASB is to create Generally Accepted Accounting Principles standards for companies within the U.S.

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