Accounting Rule May Impact Broker M&A

Quick question: Who (or what) are FASB and GAAP and what do they have to do with the insurance brokerage mergers and acquisitions world? If your best guess involves a clouded recollection that Fasbee Gap opened at a Rolling Stones concert you attended in 1975, youre wrong.

FASB, or the Financial Accounting Standards Board, is actually a fun-loving group of accounting professionals responsible for establishing the rules of the accounting game, better known as GAAP (U.S. Generally Accepted Accounting Principles).

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