FASB Accounting Standards Codification Quick Reference Guide
The FASB Accounting Standards Codification (ASC or the "Codification") organizes nongovernmental U.S. GAAP using a topic-based model consisting of 90 individual Topics. Each Topic contains at least one Subtopic. Subtopics contain Sections, which include the actual accounting guidance. Sections are based on the nature of the content (e.g., scope, recognition, measurement, etc.) and are standardized throughout the Codification.
Topics, Subtopics, and Sections
Each Section includes numbered Paragraphs. Paragraph numbers start with the Section number followed by the unique paragraph number. For example, in Section 55 the first paragraph is numbered 55-1. Paragraph numbers in the Codification will not change going forward. New paragraphs may result in the FASB using a letter extension in order to keep the numbering constant. For example, a new paragraph inserted between paragraphs 55-3 and 55-4 would be numbered 55-3A.
Paragraphs
ASC XXX-YY-ZZ-PP Citation Format XXX = Topic YY = Subtopic ZZ = Section PP = Paragraph ASC 210 (Topic 210, "Balance Sheet") Citation Examples ASC 210-20 (Subtopic 20, "Offsetting," of Topic 210) ASC 210-20-60 (Section 60, "Relationships," of Subtopic 210-20) ASC 210-20-60-5 (Paragraph 60-5 of Section 210-20-60) New authoritative U.S. GAAP will be communicated via a new FASB document called an "Accounting Standards Update" (or "ASU" for short). As the FASB issues new guidance, both the current paragraphs and the new guidance will be featured in the Codification until the new guidance is effective for all entities. During this transition, the Codification will mark the new guidance as "Pending Text" and will link to the related transition guidance. When the new guidance is effective for all entities, the previous guidance will be removed and the new guidance will remain.
New Authoritative Guidance
The Codification is available in Comperio (www.pwccomperio.com), PwC's global library of accounting literature. Comperio includes several new features and a demo to assist PwC staff and Comperio subscribers in navigating the Codification. PwC clients and friends can obtain a free 30-day trial at www.pwc.com/comperio.
PwC Resources
PwC DataLine 2009 -12 provides an overview of the Codification. PwC clients and friends can access further information under the "Codification" hot topic on the CFOdirect Network (www.cfodirect.pwc.com). PwC staff can obtain additional information in the AASD database.
Additional Information
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ASC Topic List 100 General Principles 105 Generally Accepted Accounting Principles 200 Presentation 205 Presentation of Financial Statements 210 Balance Sheet 215 Statement of Shareholder Equity 220 Comprehensive Income 225 Income Statement 230 Statement of Cash Flows 235 Notes to Financial Statements 250 Accounting Changes and Error Corrections 255 Changing Prices 260 Earnings Per Share 270 Interim Reporting 272 Limited Liability Entities 274 Personal Financial Statements 275 Risks and Uncertainties 280 Segment Reporting 300 Assets 305 Cash and Cash Equivalents 310 Receivables 320 Investments—Debt and Equity Securities 323 Investments—Equity Method and
Joint Ventures 325 Investments—Other 330 Inventory 340 Other Assets and Deferred Costs 350 Intangibles—Goodwill and Other 360 Property, Plant, and Equipment 400 Liabilities 405 Liabilities
410 Asset Retirement and Environmental Obligations
420 Exit or Disposal Cost Obligations 430 Deferred Revenue 440 Commitments 450 Contingencies 460 Guarantees 470 Debt 480 Distinguishing Liabilities from Equity 500 Equity 505 Equity 600 Revenue 605 Revenue Recognition 700 Expenses 705 Cost of Sales and Services 710 Compensation—General 712 Compensation—Nonretirement
Postemployment Benefits 715 Compensation—Retirement Benefits 718 Compensation—Stock Compensation 720 Other Expenses 730 Research and Development 740 Income Taxes 800 Broad Transactions 805 Business Combinations 808 Collaborative Arrangements 810 Consolidation 815 Derivatives and Hedging 820 Fair Value Measurements and Disclosures 825 Financial Instruments 830 Foreign Currency Matters
835 Interest 840 Leases 845 Nonmonetary Transactions 850 Related Party Disclosures 852 Reorganizations 855 Subsequent Events 860 Transfers and Servicing 900 Industry 905 Agriculture 908 Airlines 910 Contractors—Construction 912 Contractors—Federal Government 915 Development Stage Entities 920 Entertainment—Broadcasters 922 Entertainment—Cable Television 924 Entertainment—Casinos 926 Entertainment—Films 928 Entertainment—Music 930 Extractive Activities—Mining 932 Extractive Activities—Oil and Gas 940 Financial Services—Broker and Dealers 942 Financial Services—Depository and Lending 944 Financial Services—Insurance 946 Financial Services—Investment Companies 948 Financial Services—Mortgage Banking 950 Financial Services—Title Plant 952 Franchisors 954 Health Care Entities 958 Not-for-Profit Entities 960 Plan Accounting—Defined Benefit
Pension Plans 962 Plan Accounting—Defined Contribution
Pension Plans
965 Plan Accounting—Health and Welfare Benefit Plans
970 Real Estate—General 972 Real Estate—Common Interest
Realty Associations 974 Real Estate—Real Estate Investment Trusts 976 Real Estate—Retail Land 978 Real Estate—Time-Sharing Activities 980 Regulated Operations 985 Software 995 U.S. Steamship Entities