statement of financial accounting standards (SFAS or FAS)
A ruling issued by the Financial Standards Accounting Board ( FASB) covering a particular topic. Usually, these statements are referenced with the acronym FAS followed by the numeral for a specific statement. For example, FAS 119 covers disclosures required for holdings of derivatives.
See FAS [numeral] for more information on specific accounting rulings. American Banker Glossary
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Abbreviation for the Incoterm Free Alongside Ship. Bloomberg Financial Dictionary
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Flexible Accounting System. HM Customs & Revenue Glossary
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A term used in the freight market which stands for free alongside ship. The price therefore includes delivery alongside the vessel in a specified port, but the freight and insurance cost are for the buyer's account. Dresdner Kleinwort Wasserstein financial glossary
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FAS FAS
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FAS UK US noun [C]
► ACCOUNTING ABBREVIATION for Financial Accounting Standard: one of the rules for financial reporting decided by THE FASB(Cf. ↑the FASB): »
FAS 65 explains the rules regarding certain mortgage banking activities.
► ABBREVIATION for FREE ALONGSIDE SHIP(Cf. ↑free alongside ship)
Financial and business terms. 2012.