Answer
It was believed that FASB Statements would carry greater weight than APB Opinions because of significant differences between the FASB and the APB, namely:
(1) The FASB has a smaller membership of full-time compensated members;
(2) The FASB has greater autonomy and increased independence; and
(3) The FASB has broader representation than the APB.
Work Step by Step
Having greater autonomy, full-time membership as well as having a broader representation gave the impression that FASB had more authority than APB. Thus, statements issued by the FASB were taken with greater weight.
