InfoGuides: Accounting: Accounting Standards

Last Updated: Apr 5, 2024 10:16 AM

FASB Accounting Standards

FASB Accounting Standards
The source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities in the United States. Get our credentials from the page this link opens.

AICPA

FASB Accounting Standards Citation Style

Basic Citation Format for FASB Citations

FASB ASC XXX-YY-ZZ-PP

(XXX = Topic, YY = Subtopic, ZZ = Section, and PP = Paragraph) and ASC refers to Accounting Standards Codification

EXAMPLE: FASB ASC 310-10-15-2

An explanation of the structure of FASB citations can be found on page 22 of this document Accounting Standards Codification Notice to Constituents (v 46) About the Codification.

In-Text Citation for FASB

The in-text citation would be (FASB, 2011) if this was the only standard being referred to in the paper. If referencing more than one standard, add as much extra unique info as possible. For example if a writer was referencing 310 and 142 the in-text for 310 would be (FASB ASC 310, 2011).