fasb codification became authoritative u.s. gaap in 2001.
fasb codification became authoritative u.s. gaap in 2001.
when did fasb codification become authoritative u.s. gaap?
2001
accounting standards codification









































in us accounting practices, the accounting standards codification is the current single source of united states generally accepted accounting principles (gaap). it is maintained by the financial accounting standards board (fasb).









































section::::fasb accounting standards codification.









































the codification is effective for interim and annual periods ending after september 15, 2009. all prior accounting standards documents were superseded as described in fasb statement no. 168, the fasb accounting standards codification and the hierarchy of generally accepted accounting principles. accounting literature not included in the codification is non-authoritative.
accounting standards codification
the three primary goals of the codification are "simplify user access by codifying all authoritative u.s. gaap in one spot, ensure that the codification content accurately represented authoritative u.s. gaap as of july 1, 2009, and to create a codification research system that is up to date for the released results of standard-setting activity." the codification was made to make accounting standards easier to find through a single data base.









































section::::leading up to the codification process.
accounting standards codification