News Release 07/01/13

FINANCIAL ACCOUNTING FOUNDATION LAUNCHES NEW WEBSITE

Norwalk, CT, July 1, 2013—The Financial Accounting Foundation (FAF) today launched an updated website that features more user-friendly navigation and new, “plain English” educational resources that provide extensive background on financial accounting and reporting standard-setting and related issues.

The site is found at www.accountingfoundation.org.

The website redesign is part of the continuing observance of the 40th anniversary of the FAF and the Financial Accounting Standards Board (FASB). A new FASB website was launched in April. The Governmental Accounting Standards Board (GASB) will unveil its redesigned website later this summer.

The new FAF website is designed to be the primary source of news and information about the FAF and its activities. The website includes videos and other new content intended for a wide range of users, including those who are unfamiliar with the FAF and its activities. For example, the debut video features interviews by FAF President and CEO Teresa S. Polley with Russell G. Golden, the new chairman of the FASB, and David A. Vaudt, the new chairman of the GASB.

The website also provides thought leadership and educational material on:
  • U.S. accounting standards
  • The organization and processes of the FAF, the FASB, and the GASB
  • The roles the FAF, FASB, and GASB have in establishing and improving financial accounting standards, and
  • Policy issues involving international accounting, private companies, U.S. Generally Accepted Accounting Principles (GAAP), the U.S. GAAP Taxonomy, and issues on which FAF, FASB, and GASB leaders have testified before Congress.
“The new FAF website is an intuitive and user-friendly platform where visitors can find what they need to know about the standard-setting process and the roles of the FAF, the FASB, and the GASB in establishing financial reporting standards,” Ms. Polley said. “The site also provides the latest updates on important FAF initiatives, including the Post-Implementation Review process, decisions and activities of the Board of Trustees, and public policy initiatives that affect U.S. standard setting.”

The new FAF website also integrates the FAF, FASB and GASB’s new branding and logos, which were announced in April.

The new FAF website also features an interactive digital timeline that tells the story of the FAF, the FASB, and the GASB through photos, videos, and quotes from the past 40 years.

The new website was designed by Ball & Chain, LLC, based in Stamford, CT.

About the Financial Accounting Foundation

The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board (FASB) and its counterpart for state and local government, the Governmental Accounting Standards Board (GASB). The Foundation is also responsible for selecting the members of both Boards and their respective Advisory Councils.