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Quick FASB Codification Guide

The document provides a quick reference guide to the FASB Accounting Standards Codification (Codification). It lists the Codification's topics and sections, and cross-references commonly used accounting standards to their corresponding locations in the Codification. The Codification serves as the single source of authoritative nongovernmental U.S. GAAP and was effective for calendar year-end companies starting in the third quarter of 2009.

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501 views

Quick FASB Codification Guide

The document provides a quick reference guide to the FASB Accounting Standards Codification (Codification). It lists the Codification's topics and sections, and cross-references commonly used accounting standards to their corresponding locations in the Codification. The Codification serves as the single source of authoritative nongovernmental U.S. GAAP and was effective for calendar year-end companies starting in the third quarter of 2009.

Uploaded by

goldbox
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
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Accounting Insights

A publication from the National Professional Standards Group December 2009

Quick Reference Guide to the FASB Codification


The FASB Accounting Standards Codification (Codification) was launched on July 1, 2009 becoming the single source of authoritative nongovernmental U.S. GAAP, other than guidance issued by the Securities and Exchange Commission. Although the Codification is not intended to change GAAP, it will represent a significant change in the way accounting issues are researched and U.S. GAAP is referenced. The Codification was effective in the third quarter for calendar year-end companies (for financial statements ending after September 15, 2009). The Codification is available via the FASBs website using their online research system, accessible through the free Basic View or a paid subscription to the Professional View, as well as through various vendors. The following document, The Codification at a Glance, is intended to be a quick reference tool to assist users in navigating the Codification by providing a comprehensive listing of Codification Topics and Sections, and cross-referencing some commonly used accounting standards.

This Accounting Insights is a publication of McGladrey & Pullens National Professional Standards Group and should not be construed as accounting, auditing, consulting, or legal advice on any specific circumstances or facts. The contents are intended for general information purposes only.

The Codification at a Glance


Topics
General Principles 105 - Generally Accepted Accounted Principles Presentation 205 - Presentation of Financial Statements 210 - Balance Sheet 215 - Statement of Shareholder Equity 220 - Comprehensive Income 225 - Income Statement 230 - Statement of Cash Flows 235 - Notes to Financial Statements 250 - Accounting Changes and Error Corrections 255 - Changing Prices 260 - Earnings Per Share 270 - Interim Reporting 272 - Limited Liability Entities 274 - Personal Financial Statements 275 - Risks and Uncertainties 280 - Segment Reporting Assets 305 - Cash and Cash Equivalents 310 - Receivables 320 - InvestmentsDebt and Equity Securities 323 - InvestmentsEquity Method and Joint Ventures 325 - InvestmentsOther 330 - Inventory 340 - Other Assets and Deferred Costs 350 - IntangiblesGoodwill and Other 360 Property, Plant and Equipment Liabilities 405 - Liabilities 410 - Asset Retirement and Environmental Obligations 420 - Exit or Disposal Cost Obligations 430 - Deferred Revenue 440 - Commitments 450 - Contingencies 460 - Guarantees 470 - Debt 480 - Distinguishing Liabilities from Equity Equity 505 - Equity Revenue 605 - Revenue Recognition Expenses 705 - Cost of Sales and Services 710 - CompensationGeneral 712 - CompensationNonretirement Postemployment Benefits 715 - CompensationRetirement Benefits 718 - CompensationStock Compensation 720 - Other Expenses 730 - Research and Development 740 - Income Taxes Broad Transactions 805 - Business Combinations 808 - Collaborative Arrangements 810 - Consolidation 815 - Derivatives and Hedging 820 - Fair Value Measurements and Disclosures 825 - Financial Instruments 830 - Foreign Currency Matters 835 - Interest 840 - Leases 845 - Nonmonetary Transactions 850 - Related Party Disclosures 852 - Reorganizations 855 - Subsequent Events 860 - Transfers and Servicing Industry 905 - Agriculture 908 - Airlines 910 - ContractorsConstruction 912 - ContractorsFederal Government 915 - Development Stage Entities 920 - EntertainmentBroadcasters 922 - EntertainmentCable Television 924 - EntertainmentCasinos 926 - EntertainmentFilms 928 - EntertainmentMusic 930 - Extractive ActivitiesMining 932 - Extractive ActivitiesOil and Gas 940 - Financial ServicesBroker and Dealers 942 - Financial ServicesDepository and Lending 944 - Financial ServicesInsurance 946 - Financial ServicesInvestment Companies 948 - Financial ServicesMortgage Banking 950 - Financial ServicesTitle Plant 952 - Franchisors 954 - Health Care Entities 958 - Not-for-Profit Entities 960 - Plan AccountingDefined Benefit Pension Plans 962 - Plan AccountingDefined Contribution Pension Plans 965 - Plan AccountingHealth and Welfare Benefit Plans 970 - Real EstateGeneral 972 - Real EstateCommon Interest Realty Associations 974 - Real EstateReal Estate Investment Trusts 976 - Real EstateRetail Land 978 - Real EstateTime-Sharing Activities 980 - Regulated Operations 985 - Software 995 - U.S. Steamship Entities Sections1 00 - Status 05 - Overview and Background 10 - Objectives 15 - Scope and Scope Exceptions 20 - Glossary 25 - Recognition 30 - Initial Measurement 35 - Subsequent Measurement 40 Derecognition 45 - Other Presentation Matters 50 - Disclosure 55 - Implementation Guidance and Illustrations 60 - Relationships 65 - Transition and Open Effective Date Information 70 - Grandfathered Guidance 75 - XBRL Elements S99 - SEC Materials

Referencing the Codification


Basic format: FASB ASC2 XXX-YY-ZZ-PP or ASC XXX-YY-ZZ-PP (XXX = Topic, YY = Subtopic, ZZ = Section, and PP = Paragraph)

Quick Cross Reference Standard


FAS 5 FAS 13 FAS 52 FAS 57 FAS 87, 88, 106 and 132R FAS 95 FAS 109/FIN 48 FAS 107 FAS 115
1 2

Codification

Standard
FAS 123R FAS 128 FAS 130 FAS 131 FAS 133 FAS 140/FAS 166 FAS 141R FAS 142 FAS 143

Codification
ASC 718, CompensationStock Compensation ASC 505-50, Equity-Based Payments to Non-Employees ASC 260, Earnings Per Share ASC 220, Comprehensive Income ASC 280, Segment Reporting ASC 815, Derivatives and Hedging ASC 860, Transfers and Servicing ASC 805, Business Combinations ASC 350, IntangiblesGoodwill and Others ASC 410, Asset Retirement and Environmental Obligations

Standard
FAS 144 FAS 146 FAS 150 FAS 157 FAS 159 FAS 160 and FIN 46R/FAS 167 FAS 165 Various

Codification
ASC 360, Property, Plant and Equipment ASC 420, Exit or Disposal Cost Obligations ASC 480, Distinguishing Liabilities from Equity ASC 820, Fair Value Measurements and Disclosures ASC 825, Financial Instruments ASC 810, Consolidation ASC 855, Subsequent Events ASC 470, Debt

ASC 450, Contingencies ASC 840, Leases ASC 830, Foreign Currency Matters ASC 850, Related Party Disclosures ASC 715, CompensationRetirement Benefits ASC 230, Statement of Cash Flows ASC 740, Income Taxes ASC 825, Financial Instruments ASC 320, InvestmentsDebt and Equity Securities

SEC content is denoted by an S preceding the Section number ASC is the abbreviation for Accounting Standards Codification

McGladrey & Pullens Quick Reference Guide to the FASB Codification - December 2009

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