FASB Codification Guide-2

FASB Codification Guide-2

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Unformatted text preview: w: Hierarchy Level Has Title? Concise Identifier Uniquely Identified Within Citation Example(s) Area Yes None The Codification “The Broad Transactions Area” Topic Yes Three-digit number The Codification “Topic 840” or “the Leases Topic” Subtopic Yes Two- or three-digit number Each Topic “Subtopic 840-10” or “the Overall Subtopic of the Leases Topic” Section Yes Two-digit number (may be preceded by the letter “S” for SEC content) Each Subtopic “Section 840-10-25 “ or “the Recognition Section of the Overall Subtopic of the Leases Topic” Based on the preceding information, it is possible to identify the necessary and sufficient elements of Codification citations at the Area, Topic, Subtopic, and Section levels. Lesson 5: Citing Codification Content 45 Areas: Because each Area is identified only by a title that is unique throughout the Codification, an Area’s title is both a necessary and a sufficient element of an Area citation. Topics: When citing a Topic, it is necessary for either the Topic’s title or number to be specified. Because each Topic title and Topic number is unique throughout the Codification, either the Topic title or Topic number alone is sufficient for a Topic citation, and it is not necessary to cite the Area the Topic belongs to. Additionally, Area membership is implied by the first digit of each Topic’s number (e.g., Topic numbers beginning with ―8‖ are in the Broad Transactions Area). Subtopics: When citing a Subtopic, it is necessary to specify the Topic (by title or number) to which the Subtopic belongs as well as the Subtopic itself (again, by title or number) because each Subtopic title and Subtopic number are unique only within the same Topic. As such, a Topic and Subtopic together are the necessary and sufficient elements of a Subtopic citation. Simply referring to Subtopic 10 (or the Overall Subtopic) would not accurately and completely identify a specific Subtopic in the Codification. Sections: When citing a Section, it is necessary to specify the Subtopic to which the Section belongs as well as the Section itself because eac...
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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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