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The Comments column provides references to sections of Accounting Standards Codification (ASC) which complement or supersede a particular Audit and Accounting Guide. The ASC is published by the Financial Accounting Standards Board , and access to the ASC is free through the Basic View on the FASB web site.
The three primary goals of the codification are "simplify user access by codifying all authoritative U.S. GAAP in one spot, ensure that the codification content accurately represented authoritative U.S. GAAP as of July 1, 2009, and to create a codification research system that is up-to-date for the released results of standard-setting activity."
The Financial Accounting Standards Board (FASB) publishes and maintains the Accounting Standards Codification (ASC), which is the single source of authoritative nongovernmental U.S. GAAP. [2] The FASB published U.S. GAAP in Extensible Business Reporting Language (XBRL) beginning in 2008.
Business activity monitoring (BAM) is a category of software intended for use in monitoring and tracking business activities. BAM is a term introduced by Gartner, Inc. , referring to the collection, analysis, and presentation of real-time information about activities within organizations , including those involving customers and partners.
This article is an incomplete list of Financial Accounting Standards Board (FASB) pronouncements, which consist of Statements of Financial Accounting Standards ("SFAS" or simply "FAS"), Statements of Financial Accounting Concepts, Interpretations, Technical Bulletins, and Staff Positions, which together presented rules and guidelines for preparing, presenting, and reporting financial ...
The Accredited Standards Committee X12 (also known as ASC X12) is a standards organization.Chartered by the American National Standards Institute (ANSI) in 1979, [2] it develops and maintains the X12 Electronic data interchange (EDI) and Context Inspired Component Architecture (CICA) standards along with XML schemas which drive business processes globally.
Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders.
Purchase price allocation (PPA) is an application of goodwill accounting whereby one company (the acquirer), when purchasing a second company (the target), allocates the purchase price into various assets and liabilities acquired from the transaction.