SFAS

Business & Finance abbreviation · Accounting

SFAS
Stands forStatement of Financial Accounting Standards
CategoriesBusiness & Finance

SFAS stands for Statement of Financial Accounting Standards, an accounting abbreviation.

Numbered accounting standards issued by the Financial Accounting Standards Board from 1973 to 2009, such as SFAS 133 on derivatives and SFAS 157 on fair value measurement. They formed the core of US GAAP before the Accounting Standards Codification replaced them.

Example: Older textbooks still refer to SFAS 95, the standard that introduced the modern cash flow statement in 1987.

Usage notes

Also written FAS, as in FAS 123R on stock compensation. Since 2009, SFAS numbers are no longer authoritative, and accountants cite the equivalent ASC topic instead, for example ASC 820 rather than SFAS 157. The old numbers still appear in court cases and older financial statements.

More accounting abbreviations

  • Q3 – Third quarter
  • Q4 – Fourth quarter
  • QoQ – Quarter over quarter
  • QTD – Quarter to date
  • RE – Retained earnings
  • ROU – Right-of-use asset
  • SG&A – Selling, general and administrative expenses
  • SOX – Sarbanes-Oxley Act
  • T&E – Travel and expenses
  • TB – Trial balance
  • VIE – Variable interest entity
  • WAC – Weighted average cost

See all 95 accounting abbreviations →

Edited by the AbbreviationList.com team. Spotted an error or a missing meaning? Contact us.