FASB Accounting Standards Codification[TM] expected to officially launch on July 1, 2009.

The Financial Accounting Standards Board recently announced that on July 1, 2009, the FASB Accounting Standards CodificationTM is expected to officially become the single source of authoritative nongovernmental U.S. generally accepted accounting principles, superseding existing FASB, AICPA, Emerging Issues Task Force and related literature. After that date, only one level of authoritative GAAP will exist. All other literature will be considered non-authoritative. The codification reorganizes the thousands of U.S. GAAP pronouncements into...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT