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Accounting

FASB Codification

Generally accepted accounting principles (GAAP) and Financial Accounting Standards Board (FASB):

  • FASB Codification

On July 1, 2009, the Financial Accounting Standards Board (FASB) launched the Accounting Standards Codification as "the single official source of authoritative, nongovernmental U.S. generally accepted accounting principles [GAAP].”

Searching the Codification

1. Access the Accounting Research Manager database.  
2. Click on "FASB Codification" in the left column.  
3. Find the section you need

 **Look for Codification by topic (see "CCH Accounting Research Manager" tab in for more information).

1. Accessing Checkpoint Edge, select Accounting, Audit, & Corp Fin from the top menu on the upper left.

2. Click on “Citation and Other Search Tools” under the search box, you may “Find FASB Codification Documents by Citation.”

Citations to the Codification

The Codification includes:

  • Areas - general categories
  • Topics - broadly describe a subject
  • Subtopics - a narrower look at a larger topic
  • Sections - uniform headings
  • Subsections - organize paragraphs (if applicable)
  • Paragraphs - contain guidance on standard

Citations to the Codification should include the topic, subtopic, section, and paragraph numbers.

For example, "ASC 330-10-50-2":

  • ASC 330 = Inventory (topic)
  • ASC 330-10 = Overall (subtopic)
  • ASC 330-10-50 = Disclosure (section)
  • ASC 330-10-50-2 = Paragraph 50-2 in the Disclosure section