SFAC Definition

Bookmark and Share

SFAC is Statements of Financial Accounting Concepts.

Learn new Accounting Terms

ACCOUNTABILITY is the obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner. It also includes the responsibility for money or other entrusted property. 

ATTEST is to authenticate, affirm to be true, genuine, or correct, as in an official capacity.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.