A Guide for Mastering FASB Accounting Standards Codification

This course is a step-by-step guide for learning and mastering navigation of the FASB Accounting Standards Codification.

4.00 (16 reviews)
Udemy
platform
English
language
Other Finance & Economic
category
54
students
1 hour
content
Oct 2020
last update
$54.99
regular price

What you will learn

Explore the hierarchy of authoritative content on the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) website.

Recognize the nine subject areas of the Codification.

Discover FASB ASC search tips and techniques.

Identify the process for updating the Codification.

Description

This course provides a step-by-step guide for learning and mastering navigation of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC), the single source of authoritative U.S. Generally Accepted Accounting Principles (GAAP) for nongovernmental entities.

Prior to 2009, U.S. GAAP was comprised of a complex hierarchy of standards issued by a variety of standard setting bodies.  In order to both reduce complexity and to set the stage for international standards convergence projects, in 2009, the FASB completely overhauled and redesigned the source and organization of U.S. GAAP standards by issuing its final Statement on Financial Accounting Standards (SFAS) No.168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles—a replacement of FASB Statement No. 162. Thereafter, all U.S. GAAP standards were regrouped into nine distinct subject areas comprised of logical topics with consistent subtopics and sections. 

This course consists of a full walkthrough of the FASB ASC website with an in-depth discussion of how the standards are organized in order to provide a pathway for mastering navigation of the FASB ASC site content. Any accounting and finance professionals with a need to understand and/or research U.S. GAAP for nongovernmental entities will strongly benefit from learning how to navigate the Codification website through this course.

Content

Introduction

Introduction to a Comprehensive Walkthrough of the FASB Accounting Standards
An Overview of the Codification's Origins and Purpose
Getting Started / Exploring the Homepage
ASC Hierarchy: How the Standards are Organized
Navigation Essentials
Advanced Searching Techniques
Codification Updates, Pending Content and Transition Guidance

Supporting Materials

Slides: A Comprehensive Walkthrough of the FASB Accounting Standards
A Comprehensive Walkthrough of the FASB Accounting Standards Glossary / Index

Review and Test

Review Questions
FINAL EXAM

Screenshots

A Guide for Mastering FASB Accounting Standards Codification - Screenshot_01A Guide for Mastering FASB Accounting Standards Codification - Screenshot_02A Guide for Mastering FASB Accounting Standards Codification - Screenshot_03A Guide for Mastering FASB Accounting Standards Codification - Screenshot_04

Reviews

Geoff
March 1, 2024
Very professional presentation, very clear, but unfortunately seems obsolete as it does not relate to subject (current FASB website). For example the course talks about a Basic View and a Professional View and the actual website does not show them.

Charts

Price

A Guide for Mastering FASB Accounting Standards Codification - Price chart

Rating

A Guide for Mastering FASB Accounting Standards Codification - Ratings chart

Enrollment distribution

A Guide for Mastering FASB Accounting Standards Codification - Distribution chart

Related Topics

1434014
udemy ID
11/15/2017
course created date
1/2/2021
course indexed date
Bot
course submited by