Access the FASB website by clicking on the FASB Codification Access on the Course Resources page and scrolling down to the link, user ID, and password information.

Once you log in, click the FASB Accounting Standards Codification link. Find and click the Precodification Standards/FASB Pronouncements and EITF Abstracts link on the bottom left side of the landing page. Thoroughly read the last four standards issued.

Describe each standard and what it added to the existing authoritative accounting literature. Please write a paragraph on each standard.

1. Statement No. 168 - The FASB Accounting Standards Codification^® and the Hierarchy of Generally Accepted Accounting Principles—a replacement of FASB Statement No. 162

2. Statement No. 167 - Amendments to FASB Interpretation No. 46(R)

3. Statement No. 166 - Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140

4. Statement No. 165 - Subsequent Events