Accounting Standards Board

Business, Legal & Accounting Glossary

Definition: Accounting Standards Board


Quick Summary of Accounting Standards Board


The authority in the UK which issues definitive statements of best accounting practice.



Full Definition of Accounting Standards Board


UK body that sets accounting standards. It is recognised for that purpose under the Companies Act 1985 and took over the task of setting accounting standards from the Accounting Standards Committee (ASC) in 1990. The ASB also collaborates with accounting standards setters from other countries and the International Accounting Standards Board (IASB) both in order to influence the development of international standards and in order to ensure that its standards are developed with due regard to international developments. It’s a subsidiary of the Financial Reporting Council (FRC).


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/accounting-standards-board/
Modern Language Association (MLA):
Accounting Standards Board. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. May 25, 2020 https://payrollheaven.com/define/accounting-standards-board/.
Chicago Manual of Style (CMS):
Accounting Standards Board. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/accounting-standards-board/ (accessed: May 25, 2020).
American Psychological Association (APA):
Accounting Standards Board. PayrollHeaven.com. Retrieved May 25, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/accounting-standards-board/

Definition Sources


Definitions for Accounting Standards Board are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th March, 2020 | 3 Views.