Ideally, it was believed that the pronouncements of FASB would carry much more weight compared to APB Opinions due to the significant differences that existed between FASB and the APB incorporating: i. FASB has a smaller membership. ii. full-time compensated members. iii. the FASB has a greater autonomy.
Work Step by Step
Additionally, some of the other differences included; the fact that it FASB had some increased independence without forgetting the fact that broader representation was vital since APB members were required to be CPAS and members of the AICPA while FASB members do not.