FASB Codification Guide-2

In practice the source of codification citations is

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Unformatted text preview: the time, however, each citation should convey—at least in an abbreviated manner—its association with the Codification. Here are some examples of citation styles that illustrate different ways a citation’s association with the Codification may be conveyed: Topic 840 of the Financial Accounting Standards Board’s Accounting Standards Codification Topic 840 of the Financial Accounting Standards Board’s (FASB’s) Accounting Standards Codification (ASC) [This establishes abbreviations that can be used in subsequent citations, as shown in the following examples] Topic 840 of the FASB ASC [This assumes that the abbreviations ―FASB‖ and ―ASC‖ have already been established or that the reader is well-acquainted with what they stand for] FASB ASC Topic 840 FASB ASC 840. In practice, the source of Codification citations is often indicated in other abbreviated ways, for example: Codification Topic 840 ASC Topic 840 ASC 840. Note, however, that these styles may be less effective at conveying to the reader that they refer specifically to the Codification. Lesson 5: Citing Codification Content 48 Number-Based Citation Styles Because many levels of the Codification’s content hierarchy have numeric identifiers, it is often possible to cite specific Codification content solely by number. The advantages and disadvantages of number-based citation styles are summarized below: Advantages Disadvantages This is the most-concise citation style. Identifying numbers enable readers to navigate easily to the cited content (for example, by using the System ’s “GO TO” feature as explained later in this lesson). Identifying numbers alone conveys nothing about the subject matter of the content being cited. Areas and Subsections cannot be cited by number. Number-based citations for Codification Topics, Subtopics, Sections, and paragraphs are all constructed in a similar manner. A number-based citation consists of the numeric identifier or identifiers that describe a ―path‖ to the cited content through the Topic, Subtopic, Section, and paragraph levels of the content hierarchy. D...
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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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