Accounting Standards Research Guide

Financial Accounting Standards Board

Financial Reporting Time Table

Pre-July, 2007    U.S. preparers of corporate financial statements cite individual pronouncements for 
                           compliance with GAAP (Generally Accepted Accounting Principles).
                           For paper access to these archival standards, go to the  FASB/AICPA Series Access in Print.

Post July, 2007   U.S. preparers of corporate financial statements cite specific reference in the
                           Codification to document compliance.  (The Codification integrates all U.S.
                           authoritative pronouncements topically into one document.)
                           For a print overview of the Codification hierarchy, consult the GAAP Guide.

                           For electronic access to the  FASB Codification,
                           order a Basic View of the Codification free-of-charge.                            

Ongoing              In an effort to more closely align U.S. and international financial accounting
                            standards, a convergence team examines how the differences between the
                            two sets of standards can be eliminated or minimized - in effect lead to harmonization.
                            For a better understanding, see MAKING THE TRANSITION.

2015                    SEC’s latest target date for U.S. companies to fully adopt the integrated FASB/IFRS 
                            standards in their financial reporting.