Asked by Manpreet Aulakh on Jun 17, 2024

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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.
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HH
Haziq HafiyJun 23, 2024
Final Answer :
B
Explanation :
The FASB Accounting Standards Codification does not include results of academic research as authoritative support. Rather, it codifies only existing authoritative accounting literature from sources such as FASB Statements and EITF Abstracts.