Statement of Financial Accounting Standards (also called SFAS), typically followed by the statement number; issued by the Financial Accounting Standards Board. Now superseded by the Accounting Standards Codification (ASC).
FAS 13 is the primary statement regarding leases; it has been amended by FAS 17, FAS 22, FAS 23, FAS 26, FAS 27, FAS 28, FAS 29,
FAS 34, FAS 71, FAS 77, FAS 91, FAS 94, FAS 96, and FAS 98. It has also been interpreted by several FASB Interpretations and FASB Technical Bulletins. Compliance with generally accepted accounting principles (GAAP) is based on these statements plus the accumulated body of prior accounting principles.
All FAS statements have now been reorganized into the Accounting Standards Codification, which is the current official body of texts governing U.S. GAAP.