Financial Accounting Foundation (FAF)
The FAF is a private-sector organization comprising the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Boards. These groups are active in extablishing and refining standards for use in financial reporting and accounting, i.e. Generally Accepted Accounted Principles (GAPP). FASB develops standards for non-profits, public and private companies. The GASB works on standards for state and local governments.