The FASB has developed the Financial Accounting Standards Board Accounting Standards Codifi cation (or more simply “the Codifi cation”). The FASB’s primary goal in developing the Codifi cation is to provide in one place all the authoritative literature related to a particular topic. To provide easy access to the Codifi cation, the FASB also developed the Financial Accounting Standards Board Codifi cation Research System (CRS). CRS is an online, real time database that provides easy access to the Codifi cation. The Codifi cation and the related CRS provide a topically organized structure, subdivided into topic, subtopics, sections, and paragraphs, using a numerical index system.
You may fi nd this system useful in your present and future studies, and so we have provided an opportunity to use this online system as part of the Broadening Your Perspective section.
Instructions
Academic access to the FASB Codifi cation is available through university subscriptions, obtained from the American Accounting Association for an annual fee of $150. This subscription covers an unlimited number of students within a single institution. and familiarize yourself with the resources that are accessible at the FASB Codifi cation site.