The outlook of FASB 1996 has been a very difficult year for the FASB (the American Financial Accounting Standards Board) because of many reasons. To begin with, at national level it has been criticized for being too lenient as regards American companies and then, at international level, its leadership is gradually losing ground and being outstripped by another regulating body, the IASC (International Accounting Standards Comitteee). Which will then be its role within this new, rather hostile, environment ? It is yet too early to know it in advance. However, the FASB has designed a comprehensive strategic plan listing detailed objectives to meet and actions to carry out so as to keep its leading role both in the United States and world-wide.