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Content Areas in the FASB Codification System

What are the nine content areas located in the FASB Codification System? What types of items are located under each content area?

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The sections are:

1. Generally Accepted Accounting Principles: This includes a general overview of GAAP, discussion of the scope of the guidance, and grandfathered guidance.

2. Presentation: This includes general guidance regarding the presentation of financial information, including specific guidance on statements such as the balance sheet, income statement, statement of shareholder equity, and ...

Solution Summary

The solution explains the nine content areas located in the FASB codification system and the type of items that are included in each. 213 words.