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The article discusses the revenue recognition standard and financial reporting standard for not-for-profits issued by the U.S. Financial Accounting Standards Board (FASB). Topics noted include contributions and exchange transactions of not-for-profits, contributional and uncontributional status under FASB Accounting Standards Codification (ASC) Section 95860525, and FASB ASC Paragraph 958-605-259 concerning record unconditional promises to give but should not record intentions to give.

The article discusses the Financial Accounting Standards Board's Accounting Standards Codification introduced in the U.S. in 2009. The codification was introduced to address a variety of accounting issues from off-balance sheet financing to options backdating. The article offers information on the generally accepted accounting principles hierarchy. It provides details of codification organizational structure.

* FASB released the FASB Accounting Standards Codification in January. The codification simplifies the classification of accounting standards by restructuring all authoritative U.S. GAAP for nongovernmental entities into one online database under a common referencing system. It's a first step in organizing U.S. accounting standards for possible convergence with IFRS. * The codification is organized in a tiered structure. Information is organized into eight areas, ranging from industry specific to general financial statement matters. Within each area are topics, subtopics, sections, subsections and paragraphs, where details of the technical content reside. At the topic and section levels, the codification material correlates to IFRS. * Unlike any previous GAAP references, the codification follows an established pattern. The hybrid classification system is XXX-YY-ZZ-PP, where XXX = topic, YY = subtopic, ZZ = section, and PP = paragraph. * Navigation within the codification research system can be accomplished four ways: browsing by topical structure, cross-referencing original standards and the codification, searching, or by using a "go to" feature. * Browsing by topic--FASB's intended method--requires the user to click on a link from an area list, followed by topic and sub-topic. A table of contents displays sections and allows the user to expand the view to list all subsections and paragraphs. A "breadcrumb" navigation stream is listed at the top of the page for reference and navigation. * The cross-reference feature links original standards with the codification either by standard or by codification. After first choosing a standard type from a dropdown menu of 19 sources and choosing the standard number, the system generates a report linking original source paragraph numbers to codification paragraphs. [ABSTRACT FROM PUBLISHER]

The article discusses the Accounting Standards Update No. 2017-10, Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services of Financial Accounting Standards Board (FASB). It states that it addresses the diversity in practice regarding Accounting Standards Codification (ASC) Topic 853. It mentions that it applies to operating entities when they enter into service concession arrangement with public-sector grantor.

The article reports on the technical corrections and clarifications issued by the U.S. Financial Accounting Standards Board (FASB) to Generally Accepted Accounting Principles (GAAP) standards to all reporting organizations within the scope of the affected accounting guidance. These amendments include consistent use of the term participating insurance in FASB Accounting Standards Codification Subtopics, financial instruments, and consistent use of the term reinsurance recoverable.

The article discusses the need for the Financial Accounting Standards Board (FASB) to conduct performance reporting and the FASB Accounting Standards Codification. It suggests that writing and organization of specific topics could induce great improvement to help people who use the codification understand it better. FASB member Larry Smith suggests that FASB should also focus more on the U.S. GAAP Accounting Standards Codification.

The article reports on the approval of the Financial Accounting Standards Board's (FASB) Accounting Standards Codification as the basis for authoritative nongovernmental accounting principles in the U.S. The author emphasized that the move directs to the research accessibility of accounting standard documents using user-friendly online research system. These standard documents include Generally Accepted Accounting Principles (GAAP) pronouncement and the U.S. Securities and Exchange Commission.

The article focuses on the Financial Accounting Standard Board's (FASB) issuance of the FASB Accounting Standards Codification and online Codification Research System in the U.S. The codification reorganizes the number of generally accepted accounting principles (GAAP) into around 90 accounting topics. Additionally, the president and chief executive officer of the American Institute of Certified Public Accountant (AICPA) Barry Melancon had expressed his moral support to the project.

The article reports that the U.S. Financial Accounting Standards Board (FASB) will issue a compilation of standards, statements, bulletins, positions, guides, abstracts and opinions which represents the codification of the country's generally accepted accounting principles. The FASB has organized the principles into 90 topics and will make a tentative version of codification available online for verification. FASB hopes to finalize the codification by mid-2009 and thereafter continuously update the same with guidance from authoritative sources.

This section offers news briefs on accounting in the U.S. as of January 2009. A survey by the American Institute of Certified Public Accountants (AICPA) indicated that a majority of accountants are preparing for the transition to International Financial Reporting Standards (IFRS). The Financial Accounting Standards Board (FASB) intends to launch a new official accounting standards codification on July 1.

The article reports on the release of the selected portion of the Securities & Exchange Commission (SEC) and SEC staff content for the U.S. Federal Accounting Standards Advisory Board (FASB) Standards Codification. FASB launched the one-year verification standards, wherein constituents have the permission to use the online Codification Research System for free to research accounting issues. The system also provides feedback on the efficacy of the codification content that conforms GAPP standard.