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.
The group counsels the FASB on accounting and financial issues on the FASBâs agenda, new agenda items and other issues. The FASAC has more than 30 members. âIn recognition of the â¦ consensus-building nature of its mandate, the FASBâs process for issuing an accounting standard elicits widespread, thoughtful responses.