FASB adds SEC content into its standards codification
07 Apr 2008
In January, the US Financial Accounting Standards Board began a one-year verification phase of its codification of US GAAP.
During the verification period, constituents are encouraged to use the online Codification Research System free of charge to research accounting issues. The FASB has now added portions of Securities and Exchange Commission and SEC staff content into the Codification. The Codification does not change the SEC content; instead it reorganises the content into roughly 90 accounting topics to more closely align with the non-SEC content. The SEC sections relate only to matters within the basic financial statements; they do not contain the entire population of SEC rules, regulations, interpretive releases, and staff guidance. Click for:
- FASB News Release on Addition of SEC Content (PDF 18k).
- January 2008 IAS Plus News Story about the Codification.
- Link to On-Line Codification (free registration is required)
