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FASB Accounting Standards Codification

The FASB Accounting Standards Codification is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied to nongovernmental entities. The Codification is effective for interim and annual periods ending after September 15, 2009.

 

FASB Accounting Standards Codification

General Principles
105 Generally Accepted Accounting Principles
Presentation
205 Presentation of Financial Statements
210 Balance Sheet
215 Statement of Shareholder Equity
220 Comprehensive Income (FAS 130)
225 Income Statement
230 Statement of Cash Flows (FAS 95)
235 Notes to Financial Statements
250 Accounting Changes and Error Corrections (FAS 154)
255 Changing Prices
260 Earnings per Share (FAS 128)
270 Interim Reporting (APB 28)
272 Limited Liability Entities
274 Personal Financial Statements
275 Risks and Uncertainties
280 Segment Reporting (FAS 131)
Financial Statement Accounts
Assets
305 Cash and Cash Equivalents
310 Receivables
320 Investments — Debt and Equity Securities (FAS 115)
323 Investments — Equity Method and Joint Ventures (APB 18)
325 Investments — Other
330 Inventory
340 Other Assets and Deferred Costs
350 Intangibles — Goodwill and Other (FAS 142)
360 Property, Plant, and Equipment (FAS 144)
Liabilities
405 Liabilities
410 Asset Retirement and Environmental Obligations (FAS 143)
420 Exit or Disposal Cost Obligations (FAS 146)
430 Deferred Revenue
440 Commitments
450 Contingencies (FAS 5)
460 Guarantees (FIN 45)
470 Debt
480 Distinguishing Liabilities From Equity (FAS 150)
Equity
505 Equity
Revenue
605 Revenue Recognition
606 Revenue From Contracts With Customers
610 Other Income
Expenses
705 Cost of Sales and Services
710 Compensation — General
712 Compensation — Nonretirement Postemployment Benefits (FAS 112)
715 Compensation — Retirement Benefits (FAS 87; 88; 106; 112; 132(R); 158)
718 Compensation — Stock Compensation (FAS 123(R))
720 Other Expenses
730 Research and Development (FAS 2)
740 Income Taxes (FAS 109/FIN 48)
Broad Transactions
805 Business Combinations (FAS 141(R))
808 Collaborative Arrangements
810 Consolidation (FIN 46(R)/ARB 51/FAS 160/FAS 167)
815 Derivatives and Hedging (FAS 133)
820 Fair Value Measurement (FAS 157)
825 Financial Instruments (FAS 159)
830 Foreign Currency Matters (FAS 52)
835 Interest
840 Leases (FAS 13)
845 Nonmonetary Transactions (APB 29)
850 Related Party Disclosures
852 Reorganizations
853 Service Concession Arrangements
855 Subsequent Events (FAS 165)
860 Transfers and Servicing (FAS 140/FAS 166)
Industry
905 Agriculture
908 Airlines
910 Contractors — Construction
912 Contractors — Federal Government
915 Development Stage Entities
920 Entertainment — Broadcasters
922 Entertainment — Cable Television
924 Entertainment — Casinos
926 Entertainment — Films
928 Entertainment — Music
930 Extractive Activities — Mining
932 Extractive Activities — Oil and Gas
940 Financial Services — Broker and Dealers
942 Financial Services — Depository and Lending
944 Financial Services — Insurance
946 Financial Services — Investment Companies
948 Financial Services — Mortgage Banking
950 Financial Services — Title Plant
952 Franchisors
954 Health Care Entities
956 Limited Liability Entities
958 Not-for-Profit Entities
960 Plan Accounting — Defined Benefit Pension Plans
962 Plan Accounting — Defined Contribution Pension Plans
965 Plan Accounting — Health and Welfare Benefit Plans
970 Real Estate — General
972 Real Estate — Common Interest Realty Associations
974 Real Estate — Real Estate Investment Trusts
976 Real Estate — Retail Land
978 Real Estate — Time-Sharing Activities
980 Regulated Operations
985 Software
995 U.S. Steamship Entities

Format

The Codification’s categories are organized by Topic, Subtopic, Section, and paragraph, each with a numerical designation. The Sections in every Subtopic are labeled uniformly, as follows:

00 Status 40 Derecognition
05 Overview and Background 45 Other Presentation Matters
10 Objectives 50 Disclosure
15 Scope and Scope Exceptions 55 Implementation Guidance and Illustrations
20 Glossary 60 Relationships
25 Recognition 65 Transition and Open Effective Date Information
30 Initial Measurement 70 Grandfathered Guidance
32 Measurement 75 XBRL Elements
35 Subsequent Measurement S99 SEC Material

Paragraphs in each section contain the actual accounting guidance, and the numbering will remain consistent going forward (i.e., new accounting guidance added between existing paragraphs will be given a letter designation).

Accounting Updates

The Codification is updated via Accounting Standards Updates (ASUs). These are assigned a number that corresponds to the year of the ASU’s issuance and its sequential order (e.g., the first ASU issued in 2010 was 2010-01). ASUs replace accounting changes that historically were issued as FASB Statements, FASB Interpretations, FASB Staff Positions, or other types of FASB standards. ASUs contain a background and basis for conclusions as well as a marked draft of any changes to existing guidance. The new guidance is labeled “Pending Content” in the Codification, and the superseded guidance will not be removed until the guidance in the ASU is effective for all entities.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.