Accounting Standards Codification released

Filed under: Banking & Finance,Daily News |

The Financial Accounting Standards Board has released the Accounting Standards Codification, which will be accessible during a one-year verification phase.

The standards are available on the FASB’s Web site.

During the verification period, constituents are encouraged to use the free online research system and provide feedback about whether the content reflects U.S. Generally Accepted Accounting Principles for nongovernmental entities.

The FASB expects that the new system will reduce the amount of time and effort required to solve an accounting research issues and improve usability of the literature.