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FASB Updates

The FASB Accounting Standards Codification® (FASB Codification) is the sole source of authoritative GAAP other than SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standards Update (Update or ASU) to communicate changes to the FASB Codification, including changes to non-authoritative SEC content. ASUs are not authoritative standards.

Each ASU explains: 

  1. How the FASB has changed US GAAP, including each specific amendment to the FASB Codification
  2. Why the FASB decided to change US GAAP and background information related to the change
  3. When the changes will be effective and the transition method.

View the latest FASB Accounting Standards Updates.