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Unformatted text preview: proposed change, and to invite interested parties to comment on it. See Lesson 13 for
more information about proposed ASUs.
Other Exposure Documents: Occasionally the FASB formally solicits input from
interested parties on matters other than proposed changes to the authoritative FASB guidance
in the Codification. In such cases, the FASB issues an exposure document (e.g., a ―discussion
paper‖) and invites interested parties to comment on it.
Pre-Codification Standards: Before to July 1, 2009, U.S. GAAP was documented in
a collection of many different kinds of pronouncements that had been issued by different
standard setters. Those pronouncements are the ―pre-Codification standards‖ that are
available through the System. Pre-Codification standards are addressed in more detail in
Maintenance Updates: The FASB issues Maintenance Updates (MUs) to announce and
describe minor changes (typically link corrections, minor typographical corrections, website code
corrections, etc.) to authoritative FASB or SEC guidance in the Codification. MUs are also
issued for ―roll offs‖ (i.e., when the ―pending‖ designation is removed from authoritative
Codification content after it becomes fully effective and, at the same time, any superseded
content is removed). Additionally, MUs may be issued for changes to nonauthoritative content.
MUs are not exposed for comment. Each MU is assigned a numeric identifier consisting of the
four-digit calendar year of issue, followed by a hyphen, followed by a two-digit sequential
number reflecting the order of issuance with the calendar year. For example, the tenth MU
issued in 2010 was MU No. 2010-10, the first MU to be issued in 2012 will be MU No. 2012-01,
and so forth. Lesson 10: Working with Nonauthoritative Content 94 Basis for
ASUs, and preCodification
contain a “basis
i.e., the standard
standards. TIP FOR SUCCESS: ASU and MU numbering
Even though ASUs and MUs are num...
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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.
- Fall '09