FASB Codification
In this assignment, you will examine the materials available at the Financial
Accounting Standards Board (FASB) codification website. You will also
examine the Generally Accepted Accounting Principles (GAAP) and sources of
authoritative and non-authoritative guidance.
Using the FASB website and the Internet, research the GAAP and the sources
of authoritative and non-authoritative guidance.
In order to attempt the assignment questions for this module, you need to
log on to the Academic Accounting Access for FASB Accounting Standards
Codification Professional View and GARS Governmental Accounting
Research System Online.
Logins
https://aaahq.org/research/fasb
Username !aa65189
Password V7Ax4w
Using the materials available at the FASB codification website, respond to the
following:
escribe FASB codification in brief; what does it contain? Who provides
the material?
ow would you best utilize the FASB Accounting Standards Codification
in this course? How could these materials be useful in your accounting
research? Provide examples from your experiences.
xplain the Generally Accepted Accounting Principles (GAAP) and the
sources of authoritative and non-authoritative guidance. How could these
materials be useful in your accounting research? Provide examples from
your experiences.
escribe the elements of the conceptual framework.
hat is the purpose of FASB?
hat is FASB update?
ow does Topics 842 and 840 Accounting for leases relate to the effects
of the COVID-19 Pandemic?
Give reasons in support of your responses. Be sure to cite any sources.
Write your response in 500 700 words. Your response should be thorough
and address all components of the assignment questions in detail; Include
citations of all sources, where needed, according to APA style and demonstrate
accurate spelling, grammar, and punctuation.

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