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Welcome to the FASB. Accounting Standards Codification. By clicking on Access below, you agree to our terms and conditions. Access. For Personal and Non-Commercial Use. For additional info about the FASB ASC, Contact FASB Support.
The FASB Accounting Standards Codific ation® is organized into a hierarchical structure consisting of Areas, Topics, Subtopics, Sections, and Paragraphs. You can browse the contents
On February 25, 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842), to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing transactions. BC3.
On May 28, 2014, the FASB and the International Accounting Standards Board (IASB) issued a converged standard on reco gnition of revenue from contracts with customers.
About the Codification. (v 5.11)About the Codification version numbers – About the Codification contains a version number indicating the degree of change within a particular. version. Versions ending with ".0" represent substantive changes to the text, whereas versions ending with a number other than zero represent editorial or clerical cor.
The FASB is issuing this Update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements.
Generally Accepted Accounting Principles (GAAP), and Why Would They Be an Improvement? Currently, Topic 280 requires that a public entity disclose certain information about the entity’s reportable segments. For example, a public entity is required to report a measure of segment profit or loss that the CODM uses to assess segment
The FASB Accounting Standards Codification® is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities.
On December 20, 2021, the Board issued the proposed Accounting Standards Update, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, for public comment with the comment period ending on March 21, 2022. The Board received 31 comment letters.
The FASB Accounting Standards Codification® is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied to nongovernmental entities. The Codification is effective for interim and annual periods ending after September 15, 2009.