The Financial Accounting Standards Board (FASB) is a private-sector organization responsible for establishing and improving financial accounting and reporting standards in the United States. Its guidelines shape how companies prepare their financial statements, impacting various areas such as the treatment of pushdown accounting, the assessment of goodwill impairment, and the reporting of intercompany transactions. FASB standards also play a crucial role in determining the primary beneficiary in consolidation scenarios and defining classifications for held-for-sale assets, as well as segment disclosures within financial statements.
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