FASB Codification Guide-2 - FASB LEARNING GUIDE For the...

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FASB L EARNING G UIDE For the Codification Research System Professional View March 1, 2012 Financial Accounting Standards Board of the Financial Accounting Foundation
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Acknowledgements Bruce Pounder, CMA, CFM, DipIFR (ACCA), was the lead contributor for the Lessons included in the FASB Learning Guide For the Codification Research System. Special thanks to Karen Guasp of the FASB, Mary Nassef of the FAF, and numerous other FASB and FAF staff members for their editorial contributions. Copyright © 2012 by Financial Accounting Foundation, Norwalk, Connecticut. All rights reserved. This publication is for informational purposes only and the content herein is not a substitute for legal, accounting or other professional advice. As such, users should not rely on this publication for instruction, opinions, guidance, advice, or strategies on the interpretation or application of accounting or accounting standards of the Financial Accounting Standard Boards, specifically or generally, and should always consult his or her own professional advisors and discuss the facts and circumstances that apply to the user. While every effort has been made to make the information presented here as complete and accurate as possible, it may contain errors, omissions or misinformation. Neither Financial Accounting Foundation nor the Financial Accounting Standard Boards accepts any liability or responsibility to any person or entity with respect to any loss or damage alleged to have been caused, directly or indirectly, by the information, ideas, opinions or other content in this publication. If you do not agree to these terms, you should not use, consult or refer to this publication .
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Table of Contents i Table of Contents Click on any section title listed below to go directly to the section. To return to the table of contents from that section , right click and select ―Previous View.‖ You may also use the keyboard shortcut ―Alt+Left Arrow‖ to return to the previous view . Getting the Most Out of This Guide ................................................................ v-vi PART I: Core Skills Lesson 1: Getting Started with the Codification ........................................... 1-10 Recognizing When to Consult the System ............................................................. 1 Logging In .............................................................................................................. 3 How the Codification Content is Organized .......................................................... 5 How to Navigate through the Codification Content .............................................. 6 How to Find Relevant Guidance by Systematically Browsing the Codification Content ............................................................................................ 7 Logging Out ......................................................................................................... 8 Lesson 2: Navigating the Codification ......................................................... 11-21 Identifying Relevant Areas .................................................................................. 12 Identifying Relevant Topics ................................................................................. 12 Identifying Relevant Subtopics ............................................................................ 16 Assembling All Sections within a Subtopic ......................................................... 18 Lesson 3: Working with Section-Level Content .......................................... 22-34 Identifying Relevant Sections .............................................................................. 23 Finding and Distinguishing between FASB Guidance and SEC Guidance ......... 26 Systematically Browsing Content within Sections .............................................. 28 How Content Is Organized within Each Section ................................................. 29 FASB versus SEC Content within Sections ........................................................ 30 System Features Available Only at Individual Section Pages ............................. 30
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Table of Contents ii Lesson 4: Understanding the Scope of Guidance ........................................ 35-43 Recognizing Where Scope Information is Located ............................................. 36 Navigating among Sections within a Subtopic .................................................... 37
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