The FASB defines principles that accountants in the U.S. should follow and these are known as US GAAP.
US GAAP which stands for United States Generally Accepted Accounting Principles, are meant to guide accountants in the United States on how to present financial information.
They are overseen and released by the Financial Accounting Standards Board (FASB) who have the role of ensuring proper accounting records in the United States.
Find out more on the Financial Accounting Standards Board (FASB) at https://brainly.com/question/3521569.
