In January, FASB released the FASB Accounting Standards Codification (ASC or codification). The codification simplifies the classification of accounting standards by restructuring all authoritative ...

Accounting research has changed dramatically, shifting CPAs to an online tool for searching and referencing U.S. GAAP. On July 1, the FASB Accounting Standards Codification (ASC) became the single ...

In the wake of the Great Recession, FASB spent years deliberating new guidance intended to provide users with more useful information on the expected credit losses on financial instruments, the sudden ...

The Financial Accounting Standards Board on Wednesday voted to move ahead with plans for more than 30 tweaks to the Accounting Standards Codification, the source of authoritative U.S. generally ...

Discover how Statements of Financial Accounting Standards (SFAS) guide U.S. accounting principles. Learn about their impact and why they've been replaced.

The new lease accounting guidance in Accounting Standards Codification (ASC) Topic 842, “Leases,” is currently in effect for public business entities preparing financial statements for annual periods ...

Borough of Manhattan Community College, New York, NY, USA. Implementing ASC 842, the Financial Accounting Standards Board (FASB) standard for lease accounting, involves several steps and ...

The Accounting Standards Codification (ASC) is a collection of all authoritative guidance related to generally accepted accounting principles (GAAP) in the Unites States. While it is convenient to ...