FASB Codification Guide-2

For example if you are looking to answer a research

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Unformatted text preview: lenge when the titles of the Topics/Subtopics do not contain the exact words or terms you are looking for. When systematically browsing Topics and Subtopics, you should be alert for words or terms that are synonymous with the words or terms that you are thinking of. For example, if you are looking to answer a research question about accounting for ―sales,‖ you should realize that the answer will most likely be found in the Topic titled Revenue Recognition (located in the Revenue Area). Similarly, if you are looking to answer a question about accounting for ―cost of goods sold‖ expense, you should realize that the answer will most likely be found in the Topic titled Cost of Sales and Services (located in the Expenses Area). SUMMARY: To Identify Relevant Areas, Topics, and Subtopics: Identify the Codification Area(s) relevant to your research question by examining the list of nine Areas that is displayed on the left-hand side of every page in the System, near the top of the page. Within a relevant Area, identify the relevant Topic(s) by examining the pop-up menu of Topics that is displayed when you position your mouse pointer over the relevant Area in the list of Areas. Lesson 2: Navigating the Codification 17 Identify the relevant Subtopic(s) within a relevant Topic by examining the popup menu of Subtopics that is displayed when you position your mouse pointer over the relevant Topic in the pop-up menu. Click the relevant Subtopic in the pop-up menu to navigate directly to that Subtopic’s landing page. TIP FOR SUCCESS: When All Else Fails, Look in Broad Transactions As a general rule, if you are having trouble finding what you are looking for, be sure to check the Broad Transactions Area. For example, you may be trying to find the a nswer to a research question about interest expense. If you look in the Expenses Area, you will see that there is no Interest Topic. Even if you look within the Other Expenses Topic of the Expenses Area, you will not find anything about interest expense. However, if you look in the Broad Transactions Area, there is an Interest Topic that addresses both interest income and interest expense. ASSE...
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This note was uploaded on 03/27/2014 for the course ECON 12586 taught by Professor Yorambarzel during the Fall '09 term at University of Washington.

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