[Answered] ACCT 525 Week 3 Assignment: FASB Codification – ASC


Access the codification database through your course shell and give a summary (1 paragraph) of each of the below references

  1. ASC 830-230-55-1
  2. ASC 926-330-35-1
  3. ASC 954-440-25-2
  4. ASC 710-10-05-6


Over two hundred persons from various accounting and financial institutions provided feedback on the FASB Codification before it was published in 2009. When it was first conceived, the goal of this project was to make U.S. Generally Accepted Accounting Principles (GAAP) and other accounting standards more accessible, user-friendly, and researchable. All GAAP applicable to non-governmental organizations are included in the Codification’s topically ordered framework. The Codification represents a wide range of themes, each of which is broken down into even more specific subtopics and parts. One instrument designed to cut down on the time spent investigating various accounting problems is the FASB Accounting Standards Codification Research System (Codification Research System). Users may do research on a wide variety of topics and then link to supplementary material in the Codification (Financial Accounting Foundation, 2014). …..please click the icon below to purchase the solution at $20