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FASB Codification Bound Edition

Five-Volume Edition Dated October 31, 2016
The FASB Accounting Standards Codification® (FASB Codification) is the single, authoritative source of U.S. Generally Accepted Accounting Principles (U.S. GAAP) for public and private companies, not-for-profits, and other non-governmental organizations. The new five-volume bound edition of the FASB Codification contains all of the content of the online Codification as of October 31, 2016.

New Topics were added this year, which include the following:

  • Topic 326 -- Financial Instruments -- Credit Losses: This Topic amends guidance on reporting credit losses for assets held at amortized cost basis and available for sale securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. For available for sale debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. Topic 326 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through net income.

  • Topic 321 -- Investments -- Equity Securities: This new Topic requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. Equity investments that do not have readily determinable fair values may be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment.

  • Topic 842 -- Leases: This new Topic supersedes the leases requirements in Topic 840 and establishes the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease.

    Useful Features:

    • Pending Text clearly identified with a shaded box and sidebar.
    • Topical Index appears at the end of Volume 5 with information about using this research feature. This section includes an alphabetical listing of all Topics referenced in the FASB Codification with their starting page numbers.
    • Alphabetical Listing of Codified Topics included at the start of each volume.

    Volume 1 includes About the Codification, which provides information to aid in understanding the topical structure, content, style, and history of the FASB Codification. Volume 1 also includes:
    1. General Principles (Topic 105)
    2. Presentation (Topics 205 through 280)
    3. Assets (Topics 305 through 360)
    4. Liabilities (Topics 405 through 480).
    Volume 2 includes:
    1. Equity (Topic 505)
    2. Revenue (Topics 605 through 610)
    3. Expenses (Topics 705 through 740).
    Volume 3 includes:
    1. Broad Transactions Area (Topics 805 through 860).
    Volume 4 includes:
    1. Industry Area (Topics 905 through 954).
    Volume 5 includes:
    1. The remainder of the Industry Area (Topics 958 through 995)
    2. Master Glossary
    3. Topical Index.

  • PRODUCT CODE:
     CODB16
      $255.00  


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