Definition of genre. 1  1 : a category of artistic, musical, or literary composition characterized by a particular style, form, or content a classic of the gothic novel genre. 2  2 : kind, sort. 3  3 : painting that depicts scenes or events from everyday life usually realistically.
In 1973, the Accounting Principles Board was replaced by the Financial Accounting Standards Board (FASB) under the supervision of the Financial Accounting Foundation with the Financial Accounting Standards Advisory Council serving to advise and provide input on the accounting standards.
In June 1997, the FASB issued SFAS 131, revising SFAS 14 standards for reporting information about operating segments. The FASB and the Accounting Standards Board (AcSB) of the Canadian Institute of Chartered Accountants (CICA) collaborated on this project and reached the same conclusions.