FASB Accounting Standards Codification

You do not currently have the Adobe Flash player installed. Click Here to download and install.

FASB Accounting Standards Codification™

FASB issues updates clarifying investment funds and subsequent events
FASB has issued Accounting Standards Update (ASU) No. 2010-10, Consolidation (Topic 810): Amendments for Certain Investment Funds. For many reporting entities (calendar year companies in particular) these amendments are effective immediately.

Understanding FASB accounting standards updates and new Codification citations
Citations for references to the FASB Accounting Standards Codification™ are listed as “ASC {Topic}-{Subtopic}-{Section}-{Paragraph}”. A citation may be made at the topic, subtopic, section, or paragraph level. For example, a reference to the entire Fair Value Measurements and Disclosures topic would be FASB ASC 820.

FASB Codification launched July 1 as official single source of authoritative nongovernmental U.S. GAAP
OSCPA provides exclusive members-only webinar series exclusively for OSCPA members

FASB July 1 released the final version of its new Accounting Standards Codification (the Codification) as the single authoritative source for U.S. GAAP. The Codification replaces all previous U.S. GAAP accounting standards as described in FASB Statement No. 168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles (FAS 168), which was released last week. A basic view of the Codification is available free of charge through FASB's Web site. FASB charges a subscription fee for access to an enhanced view, which contains helpful functionality to assist in navigating and searching the Codification.

More on the FASB Codification