Asked by Manpreet Aulakh on Jun 17, 2024
Verified
The FASB Accounting Standards Codification is expected to provide all of the following benefits except
A) reduce the research time necessary to solve an accounting research issue
B) codify authoritative support such as results of academic research
C) provide real-time updates as new standards are issued
D) improve the usability of the authoritative accounting literature
FASB Accounting Standards Codification
The single source of authoritative nongovernmental U.S. Generally Accepted Accounting Principles (GAAP) organized by topic.
Authoritative Support
Guidance or directives from recognized bodies or documents that provide a foundation or validation for actions and decisions.
Accounting Research
The examination and analysis of accounting practices to create guidance or knowledge in the field of accounting.
- Appreciate the role and benefits of the FASB Accounting Standards Codification.
Verified Answer
Learning Objectives
- Appreciate the role and benefits of the FASB Accounting Standards Codification.
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