FAF RELEASES UPDATED PRINT EDITION OF FASB ACCOUNTING STANDARDS
CODIFICATION®
Norwalk, CT, January 21, 2014—The
Financial Accounting Foundation (FAF) today released an updated print edition of
the Financial Accounting Standards Board´s FASB Accounting Standards
Codification®, the single, authoritative source of U.S.
Generally Accepted Accounting Principles (U.S. GAAP) for public and private
companies and not-for-profit organizations. The new four-volume bound edition of
the FASB Codification contains all of the content of the online Codification as
of October 31, 2013.
The annual bound edition of the Codification is
intended to be used as a reference tool in conjunction with the always-current
online Codification available at https://asc.fasb.org/.
This edition includes an
alphabetical listing of all the Topics referenced in the FASB Codification—with
their related starting page numbers—at the beginning of each volume, for more
effective use.
The Codification is presented in four volumes, as follows:
- Volume 1 includes the Notice to Constituents, which provides information
to aid in understanding the topical structure, content, style, and history of
the FASB Codification. Volume 1 also contains standards relating to General
Principles (Topic 105), Presentation (Topics 205 through 280), Assets (Topics
305 through 360), Liabilities (Topics 405 through 480), and Equity (Topic
505).
- Volume 2 includes standards relating to Revenue (Topic 605), Expenses
(Topics 705 through 740), and the beginning of the Broad Transactions Area
(Topics 805 through 815).
- Volume 3 includes standards relating to the remainder of the Broad
Transactions Area (Topics 820 through 860) and the beginning of the Industry
Area (Topics 905 through 944).
- Volume 4 includes standards relating to the remainder of the Industry Area
(Topics 946 through 995), the Master Glossary, and the Topical Index.
The annual print edition of the FASB Accounting Standards Codification® can be
ordered online at the FASB Store at the cost of $215.00.
About
the Financial Accounting Foundation
The FAF is responsible for
the oversight, administration, and finances of both the Financial Accounting
Standards Board (FASB) and its counterpart for state and local government, the
Governmental Accounting Standards Board (GASB). The Foundation is also
responsible for selecting the members of both Boards and their respective
Advisory Councils.
About the Financial Accounting Standards
Board
Since 1973, the Financial Accounting Standards Board has
been the designated organization in the private sector for establishing
standards of financial accounting and reporting. Those standards govern the
preparation of financial reports and are officially recognized as authoritative
by the Securities and Exchange Commission and the American Institute of
Certified Public Accountants. Such standards are essential to the efficient
functioning of the economy because investors, creditors, auditors, and others
rely on credible, transparent, and comparable financial information. For more
information about the FASB, visit our website http://www.fasb.org/.