The Financial Accounting Foundation has released its 2014 annual report, which focuses on its recently released strategic plan.

Titled “Building a Better GAAP,” the annual report delves into the strategic plan that the FAF and the two standard-setters that it oversees, the Financial Accounting Standards Board and the Governmental Accounting Standards Board, set up as a blueprint for how they will work together over the next few years to improve GAAP.

The report provides high-level overviews of the accomplishments of the FAF, FASB and GASB, as well as letters describing the importance of improving GAAP from FAF Chairman Jeffrey Diermeier, FAF president and CEO Teresa Polley, FASB Chair Russell Golden, and GASB Chair David Vaudt.

Digital copies are available on; hard copies can be requested by e-mailing

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