Intermediate Accounting: Reporting and Analysis - With Access
Intermediate Accounting: Reporting and Analysis - With Access
3rd Edition
ISBN: 9780357251751
Author: WAHLEN
Publisher: Cengage
Question
Book Icon
Chapter 1, Problem 12GI
To determine

Describe FASB codification, the reason for its formation; the way in which it changes GAAP, and identify the types of pronouncements comprised GAAP, prior to the codification.

Blurred answer
Students have asked these similar questions
Briefly describe some of the similarities and differences between GAAP and IFRS with respect to reporting accounting changes.
Why does the FASB undertake a series of elaborate information-gathering steps before issuing a substantive  accounting standard?
How do you think accounting standards should be set? Is that the approach currently taken by the IASB?
Knowledge Booster
Background pattern image
Similar questions
Recommended textbooks for you
Text book image
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning