DeVry University College of Business and Management Pomona, California Course Project ethics in accounting: Accounting error or fraud? By Rasha Amin R_7419@yahoo.com Submitted in Partial Fulfillment of the Course Requirements for Current Issues in Accounting Acct 525 Professor:
Words: 1567 - Pages: 7
accounting standards board (FASB) has developed a research tool to assist people in finding the correct guidelines and generally accepted accounting principles (GAAP) that apply to companies not ran by the government. [ (multiple, FASB Accounting Standards Codification, 2009) ] The Codification is to give up to date releases of standard-setting activity, ensure accurate codified material, and simply access of all authoritative US GAAP into one centralized location. The Codification does not have standards
Words: 1819 - Pages: 8
Accounting Standards Codification® Notice to Constituents (v 4.6) About the Codification FASB Accounting Standards Codification® Notice to Constituents (v 4.6) About the Codification Notice to Constituent version numbers - The Notice to Constituents contains a version number indicating the degree of change within a particular version. Versions ending with ".0" represent substantive changes to the text, whereas versions ending with a number other than zero represent editorial or clerical corrections
Words: 13896 - Pages: 56
FASB Codification System Orientation Paper Joel Bermudez ACC/497 January 28, 2015 Nanette Morrow In a constant developing economy and globalization, a need was created to make a guideline for an easier, clearer, and useful financial reporting system. For this purpose, the Financial Accounting Standards Board (FASB) created the Accounting Standards Codification that was launched on July 1, 2009, for interim and financial reporting after September 15, 2009. The Financial Accounting Standards
Words: 502 - Pages: 3
“Codification” means the FASB Accounting Standards Codification electronic research system developed and released by the FASB which houses, reorganizes and indexes United States financial accounting standards and related literature (FASB Accounting Standards Codification®). The codification can basically be referred to as a one stop complete authorized source of reference for GAAP framework in order to adhere to the requirements of fair financial reporting by non-governmental entities. The codification
Words: 1051 - Pages: 5
Accounting Standards Codification® Notice to Constituents (v 4.5) About the Codification FASB Accounting Standards Codification® Notice to Constituents (v 4.5) About the Codification Notice to Constituent version numbers - The Notice to Constituents contains a version number indicating the degree of change within a particular version. Versions ending with ".0" represent substantive changes to the text, whereas versions ending with a number other than zero represent editorial or clerical corrections
Words: 13897 - Pages: 56
Standards Board Accounting Standards Codification (also known as “the Codification”) was created by the Financial Accounting Standards Board (FASB) to provide users of U.S. generally accepted accounting principles (GAAP) one place to access authoritative literature on GAAP. The FASB also developed the Financial Accounting Standards Board Codification Research System (CRS). “CRS is an online real-time database that provides easy access to the Codification. The Codification and the related CRS provide a
Words: 835 - Pages: 4
to PlayBall.com. The following memo offers my solution in conformance with the FASB rules and regulations. First, it is in question whether TechMall should report revenue based on (a) the gross amount of earned revenue billed to a customer from the sale of the goods or services or (b) the net amount retained (that is, the amount billed to a customer less the amount paid to a supplier) due to the commission fee (FASB 605.45.45.1). This issue often arises with companies that sell goods or services
Words: 2618 - Pages: 11
The FASB Accounting Standards Codification® is an advanced application that allows users to access the authoritative content, perform research, and submit feedback. System features provide utilities to view content in many different ways such as browsing by Topic, joining related content, and searching. The FASB Accounting Standards Codification® is an advanced application that allows users to access the authoritative content, perform research, and submit feedback. System features provide utilities
Words: 259 - Pages: 2
Part I: Know the FASB I. As discussed many times in ACC 310, the FASB is the current accounting standard setters in the U.S. as they are empowered by the SEC. Visit the FASB website at www.fasb.org and answer the following questions: (Do not cut and paste but answer in your own words. Any material quoted should be cited). 1. What is the FASB mission? 1pts The FASB mission is to establish and improve financial accounting standards and reporting. This sets the guidance for
Words: 1244 - Pages: 5
