FASB Codification Developments — 2008: Strengthening Financial Management and Reporting

This Financial Reporting Alert is intended to provide accountants practicing in business and industry with a better understanding of the FASB Accounting Standards Codification™ (codification), outline the structure of the codification, as well as to provide some case studies on how to navigate the FASB Accounting Standards Codification™ Research System and perform accounting research.

This alert gives an overview of the codification project, including the scope of the project, guidance affected, transition information, new terminology used in the codification, special features of the codification research system, the verification process, as well as how the FASB plans to issue updates to the codification. The case study examples will show you how to effectively perform research in the codification including navigating the topical structure, accessing archived information, using the glossary and using the following codification tools and features including the:

• cross reference feature
• search feature
• printer-friendly with sources feature
• join sections feature
• go to feature

This document has not been approved, disapproved, or otherwise acted on by a senior technical committee of the AICPA.

029209