FASB Interpretation definition
/What is a FASB Interpretation?
A FASB Interpretation is an official issuance of the Financial Accounting Standards Board (FASB). This document provides additional information about a previously-issued accounting standard , stating how it should be applied; it is essentially explanatory. An interpretation is considered to be part of generally accepted accounting principles .
FASB Interpretations are no longer issued. Instead, the FASB issues Accounting Standard Updates, which represent amendments to its Accounting Standard Codification.
