ACCOUNTING_STANDARDS_CODIFICATION_exercise

ACCOUNTING_STANDARDS - ACCOUNTING STANDARDS CODIFICATION INTRODUCING GAAP RESEARCH TO ACCOUNTING STUDENTS PART 1 INTRODUCTION Because of the

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCOUNTING STANDARDS CODIFICATION: INTRODUCING GAAP RESEARCH TO ACCOUNTING STUDENTS PART 1 – INTRODUCTION Because of the previous nature of U.S. generally accepted accounting principles (GAAP) with its multiple, scattered sources and various formats, accounting principles students have generally experienced GAAP indirectly through textbooks or class lectures. Recent changes in structure make U.S. GAAP easily accessible to accounting students. The FASB Accounting Standards Codification (ASC), the single source for authoritative nongovernmental U.S. GAAP beginning July 1, 2009, provides a new logical, topical format and the Codification Research System supplies an online tool not previously available for performing research. Now, directed research using the Codification Research System can connect even introductory students to the real-world source of GAAP. FASB has partnered with the American Accounting Association to make the ASC and Codification Research System available for educational use. The Professional Version of the Codification is available to accounting program faculty and students at an annual institutional fee of $150. See http://aaahq.org/FASB/Access.cfm for details. For access to the Codification using Guilford College’s license, use the following information: http://aaahq.org/ascLogin.cfm User ID: AAA55733 Password: sraeruf Accounting instructors can familiarize themselves with the organization of the ASC and the features of the Codification Research System using online tools provided by FASB. The home page of the ASC has a pdf document,
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/20/2012 for the course ECON 222 taught by Professor Enclair during the Spring '12 term at Guilford Tech.

Page1 / 3

ACCOUNTING_STANDARDS - ACCOUNTING STANDARDS CODIFICATION INTRODUCING GAAP RESEARCH TO ACCOUNTING STUDENTS PART 1 INTRODUCTION Because of the

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online