A key aspect of the Accounting Standards Codification is the structure used to organize content. Understanding that structure will help you utilize the codification efficiently and effectively.

Required:
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org) and select Basic View for free access.
1. For each of the following seven-digit Codification citations (XXX XX-XX), indicate the part of the title of the citation associated with the sixth and seventh digits (for example, the part of the title associated with the sixth and seventh digits of Codification citation 310-10-05, “Receivables—Overall—Overview and Background,” is “Overview and Background.”
a. ASC 505-10-50
b. ASC 310-10-35
c. ASC 730-10-25
d. ASC 330-10-45
e. ASC 805-10-30
f. ASC 320-10-45
g. ASC 606-10-25
h. ASC 710-10-30
i. ASC 718-10-35
j. ASC 360-10-50
2. Compare your answers across the assets shown in parts 1a-1j. Does the Codification associate the sixth and seventh digits of a citation with the same categories, regardless of the account or transaction in question? Identify a benefit of this approach.