AICPA Applauds FASB's Issuance of GAAP Codification; Members Encouraged to Comment During Verification Period.

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.