Accounting Standards Codification

This accountancy-related article is a stub. You can help Wikipedia by expanding it.v · US accounting practices, codification is the current single source of United States Generally Accepted Accounting Principles (GAAP). FASB Accounting Standards Codification The codification is effective for interim and annual periods ending after September 15, 2009. All existing accounting standards documents are superseded as described in FASB Statement No. 168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles. All other accounting literature not included in the Codification is nonauthoritative. The Codification reorganizes the thousands of U.S. GAAP pronouncements into roughly 90 accounting topics and displays all topics using a consistent structure. It also includes relevant U.S. Securities and Exchange Commission (SEC), guidance that follows the same topical structure in separate sections in the Codification. To prepare constituents for the change, the FASB has provided a number of tools and training resources.[1] While the Codification does not change GAAP, it introduces a new structure—one that is organized in an easily accessible, user-friendly online research system. The FASB expects that the new system will reduce the amount of time and effort required to research an accounting issue, mitigate the risk of noncompliance with standards through improved usability of the literature, provide accurate information with real-time updates as new standards are released, and assist the FASB with the research efforts required during the standard-setting process. References ^ Financial Accounting Standards Board. News Release, 07/01/09. External links American Legal Publishing Corporation Wikimedia Foundation. 2010. Игры ⚽ Поможем написать реферат Codie Prevost Michel de Codignac Look at other dictionaries: Financial Accounting Standards Board — (FASB) The designated organisation in the private sector for establishing standards of financial accounting and reporting in the US. These standards govern the preparation of financial reports. They are officially recognised as authoritative by… …   Law dictionary Financial Accounting Standards Board — Das Financial Accounting Standards Board (FASB) ist ein us amerikanisches, privatrechtlich organisiertes Rechnungslegungsgremium.[1] Es hat die Zielsetzung festzulegen was United States Generally Accepted Accounting Principles (US GAAP) für… …   Deutsch Wikipedia Codification — may refer to: Codification (law), the process of forming a legal code (i.e. formalising the laws of a jurisdiction by setting them out in a book of law, a codex). Codification (linguistics), the process of standardising and developing a norm for… …   Wikipedia United States Generally Accepted Accounting Principles — Die United States Generally Accepted Accounting Principles (US GAAP [gæp]; deutsch: „Allgemein anerkannte Rechnungslegungsgrundsätze der Vereinigten Staaten “) sind US amerikanische Rechnungslegungsvorschriften und allgemein anerkannte… …   Deutsch Wikipedia Generally Accepted Accounting Principles (United States) — In the U.S., generally accepted accounting principles, commonly abbreviated as US GAAP or simply GAAP, are accounting rules used to prepare, present, and report financial statements for a wide variety of entities, including publicly traded and… …   Wikipedia FASB — Financial Accounting Standards Board (FASB) The designated organisation in the private sector for establishing standards of financial accounting and reporting in the US. These standards govern the preparation of financial reports. They are… …   Law dictionary House of GAAP — Das House of GAAP (deutsch: Haus der Allgemein anerkannten Rechnungslegungsgrundsätze) ist ein Konzept der US amerikanischen Rechnungslegung zur Festlegung der Rangfolge der verschiedenen US GAAP. Es hat durch die Einführung der Accounting… …   Deutsch Wikipedia Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia Depreciation — Not to be confused with Deprecation. Depreciation refers to two very different but related concepts: the decrease in value of assets (fair value depreciation), and the allocation of the cost of assets to periods in which the assets are used… …   Wikipedia ОБЩЕПРИНЯТЫЕ ПРИНЦИПЫ БУХГАЛТЕРСКОГО УЧЕТА — ОПБУ(GENERALLY ACCEPTED ACCOUNTING PRINCIPLES GAAP). Нормы, правила и процедуры, определяющие общепринятую на определенном отрезке времени практику бухучета. Бюро по разработке принципов бухучета отмечало Общепринятые принципы бух. учета,… …   Энциклопедия банковского дела и финансов 18+ © Academic, 2000-2024 Contact us: Technical Support, Advertising Dictionaries export, created on PHP, Joomla, Drupal, WordPress, MODx. Mark and share Search through all dictionaries Translate… Search Internet Share the article and excerpts Direct link … Do a right-click on the link above and select “Copy Link”