New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Ducote week 1 - FASB Codification paper.docx

by: Topseller Notetaker

Ducote week 1 - FASB Codification paper.docx PRG211

Marketplace > Ashford University > Computer Programming > PRG211 > Ducote week 1 FASB Codification paper docx
Topseller Notetaker
GPA 3.9

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Ducote week 1 - FASB Codification paper.docx
Study Guide
50 ?




Popular in

Popular in Computer Programming

This 0 page Study Guide was uploaded by Topseller Notetaker on Wednesday November 11, 2015. The Study Guide belongs to PRG211 at Ashford University taught by in Fall 2015. Since its upload, it has received 26 views. For similar materials see in Computer Programming at Ashford University.


Reviews for Ducote week 1 - FASB Codification paper.docx


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 11/11/15
FASB Codi cation 1 FASB Codification Eric Ducote ACC497 Rick Kwan September 8 2014 FASB Codi cation 2 The FASB Codification System was created in 2009 to be the official source of authoritative nongovernmental US generally accepted accounting principles FASB 2009 The system reorganized the US GAAP pronouncements issued by the FASB and other standardsetting bodies into about 90 accounting topics and includes relevant SEC guidance in separate sections The purpose of the FASB Codification System is to organize the laws and accounting principles for simplicity The codification is used by accounting professionals analysts reporting professional investors and other outside users to research topics needed for information The codification system was created to make the research simple for the users With all uptodate information guidelines and pronouncements The users can browse by topic search for topic and use the Go To navigation to find the information intended FASB Codification System 2009 The nine content areas located on the FASB Codification System are General Principles Presentation Assets Liabilities Equity Revenue Expenses Broad Transactions Industry WWNQMPPP The general principles cover the Generally Accepted Accounting Principles Which identify the changes to the accounting standards updates Each subtopic covers the updates to the FASB Codi cation 3 GAAP guidelines modifications done to the guidelines and content grandfathered in after the creation of the Codification system Each subtopic of the presentation section covers a presentation of financial statements balance sheets statement of shareholders equity comprehensive income income statement statement of cash ows notes to the financial statements accounting changes and error corrections changing prices earnings per share interim reporting limited liability entities personal financial statements risks and uncertainties and segment reporting The assets section covers the information that appears on the balance sheet such as the cash and cash equivalents receivables investments debt and equity securities investments equity method and joint ventures other assets and deferred costs goodwill and other intangibles and property plant and equipment The subtopics of the liabilities section cover all the accounts in the liabilities section on the balance sheet The subtopics are the liabilities asset retirement and environmental obligations exit or disposal cost obligations deferred revenue commitments contingencies guarantees debt and distinguishing liabilities from equity The equity subtopics cover the stock dividends and stock splits treasury stock equity based payments to nonemployees spinoffs and reverse spinoffs agriculture and financial services for depository and lending insurance and investment companies The revenue section covers the subtopic of the revenue recognition The expense section covers the expenses of cost of sales and services compensation on general nonretirement postemployment benefits retirement benefits and stock compensation other expenses research and development and income taxes FASB Codi cation 4 The subtopics of the broad transactions are the business combinations collaborative arrangements consolidation derivatives and hedging fair value measurement financial instruments foreign currency matters interest leases nonmonetary transactions related party disclosures reorganizations subsequent events and transfers and service The industry subtopics cover the agriculture airlines contractors development stage entities entertainment extractive activities financial services franchisors health care entities notforprofit entities plan accounting real estate regulated operations software and US steamship entities Each topic and subtopic of the FASB Codification System Will help external users obtain the information they need to follow the laws and guidelines presented by the FASB and the SEC The Codification System Will make it easier on the users to search for the information and stay on task With the intended obligations For future reference it is a good idea to have the FASB Codification System Weblink bookmarked for When the information is needed References FASB Codi cation 5 FASBorg 2009 News Release 07012009 FASB Accounting Standards Codification Launches Today Retrieved September 7 2014 from httpWWWfasborgj spFASBFASBContentCNewsPageampcid1 176156318458 FASB Codification System 2009 FASB Codification QampA Retrieved September 7 2014 from httpaaahqorgFASBFASBFAQpdf


Buy Material

Are you sure you want to buy this material for

50 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Anthony Lee UC Santa Barbara

"I bought an awesome study guide, which helped me get an A in my Math 34B class this quarter!"

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.