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 | Income Statement — Reporting 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) |
| 321 | Investments — Equity Securities |
| 323 | Investments — Equity Method and Joint Ventures (APB 18) |
| 325 | Investments — Other |
| 326 | Financial Instruments — Credit Losses |
| 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) |
| 842 | Leases |
| 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 — Brokers 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. ASUs are available in PDF format on the FASB's Web site.