FAF RELEASES UPDATED PRINT EDITION OF FASB ACCOUNTING STANDARDS CODIFICATION®
Norwalk, CT—January 29, 2015—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 Generally Accepted Accounting
Principles (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, 2014.
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:
The annual print edition of the FASB Accounting Standards Codification® can be ordered online at the FASB Store at the cost of $215.00.
- Volume 1 includes About the Codification, 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 (Topics
605–610), 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
About the Financial Accounting Foundation
Established in 1972, the Financial Accounting Foundation (FAF) is the
independent, private-sector, not-for-profit organization based in
Norwalk, Connecticut responsible for the oversight, administration,
financing, and appointment of the Financial Accounting Standards Board
(FASB) and the Governmental Accounting Standards Board (GASB). The FASB
and GASB establish and improve financial accounting and reporting
standards—known as Generally Accepted Accounting Principles, or GAAP—for
public and private companies, not-for-profit organizations, and state
and local governments in the United States. For more information, visit www.accountingfoundation.org.
About the Financial Accounting Standards Board (FASB)
Established in 1973, the FASB is the independent, private-sector
organization, based in Norwalk, Connecticut, that establishes financial
accounting and reporting standards for public and private companies and
not-for-profit organizations that follow Generally Accepted Accounting
Principles (GAAP). The FASB is recognized by the Securities and Exchange
Commission as the designated accounting standard setter for public
companies. FASB standards are recognized as authoritative by many other
organizations, including state Boards of Accountancy and the American
Institute of CPAs (AICPA). The FASB develops and issues financial
accounting standards through a transparent and inclusive process
intended to promote financial reporting that provides useful information
to investors and others who use financial reports. The Financial
Accounting Foundation (FAF) supports and oversees the FASB. For more
information, visit www.fasb.org.