Generally accepted accounting principles are determined by

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Generally accepted accounting principles (GAAP) are determined by the Financial Accounting Standards Board (FASB), which is a private organization that establishes accounting and financial reporting standards in the United States. The FASB works to improve financial reporting by setting accounting standards that reflect market conditions and evolving business practices. While the SEC oversees the financial reporting of publicly traded companies, it does not determine GAAP. Similarly, Congress may pass laws related to accounting practice, but it is not directly responsible for setting GAAP. Certified public accountants may have input into the development of GAAP, but they do not determine it through annual voting.

Generally Accepted Accounting Principles Are Determined by