Multiple sources comprise the body of literature referred to as Generally Accepted Accounting Principles (GAAP), including pronouncements and interpretations of the SEC, CAP, APB, and FASB, as well as AICPA industry guides, bulletins, and interpretations. To simplify the task of researching an accounting topic, in 2007 the FASB launched its FASB Accounting Standards Codification project. The objective of the project was to integrate and topically organize all relevant accounting pronouncements comprising GAAP in a searchable online database.

The codification becomes effective on July 1, 2009 and will represent the single source of authoritative nongovernmental U.S. generally accepted accounting principles, except for rules and interpretive releases of the SEC which will remain as sources of authoritative GAAP. All other literature will be nonauthoritative.

In the document included here, we provide the new accounting standards codification system (ASC) reference for all footnotes appearing in the Fifth Edition of Intermediate Accounting that reference accounting pronouncements. References that were applicable prior to the ASC also are included in the tables for ease of transition.

Codification_Updates.pdf (96.0K)