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About the Codification

Welcome to the Financial Accounting Standards Board (FASB) Accounting Standards Codification® (Codification).

The Codification is the single source of authoritative nongovernmental U.S. generally accepted accounting principles (US GAAP). The Codification is effective for interim and annual periods ending after September 15, 2009. All previous level (a)-(d) US GAAP standards issued by a standard setter are superseded. Level (a)-(d) US GAAP refers to the previous accounting hierarchy. All other accounting literature not included in the Codification is nonauthoritative. See Codification Topic 105, Generally Accepted Accounting Principles, for additional details.

The Codification is the result of a major 5-year project involving more than 200 people from multiple entities. The Codification structure is significantly different from the structure of previous accounting standards. About the Codification provides information that will help in obtaining a good understanding of the Codification structure, content, style and history.