Question
The FASB had three primary goals in developing the Codification: 1. Simplify user access by codifying all authoritative US GAAP in one spot. 2. Ensure
The FASB had three primary goals in developing the Codification:
1. Simplify user access by codifying all authoritative US GAAP in one spot.
2. Ensure that the codified content accurately represented authoritative US GAAP as of July 1, 2009.
3. Create a codification research system that is up to date for the released results of the standard-setting activity.
Do you think all of the goals have been realized?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
FASB codification Changes the way Gaap is documented presented and updates It is the curr...
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
