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The Accounting Standards Codification (ASC) U.S. GAAP
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7 жыл бұрынThis video discusses the Accounting Standards Codification (ASC) which contains the generally accepted accounting principles (GAAP) for companies in the United States. The Financial Accounting Standards Board (FASB) codified the accounting standards into one central location in 2009. Prior to the ASC, there was a hierarchy of GAAP with certain things being more authoritative than others. Now that the codification has taken place, there is a single layer of GAAP. The FASB periodically amends the ASC with an Accounting Standards Update (ASU).-
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@MyFinancialFocus 2 жыл бұрын
I like how diversified the responsibilities of these different regulatory entities are.
@icecold1805 5 жыл бұрын
So basically, thanks to this Topic system to organize the GAAP, I can just study isolated accounts to understand how to account them one by one, or perhaps dont even learn them all if I work in a workplace where they only ask me to do some very specific task all the time. I work on an outsourced audit company, and as a latinamerican working for a US company you can imagine I only handle simple and menial tasks that dont require much in-depth knowledge of US accounting. I guess I should thank the 2009 code for that?.
@ErikaPaolaRodriguez 6 жыл бұрын
What would be Texas Accounting Standards Codification?
@frankb.8071 2 жыл бұрын
i think i need to drop out and just sell drugs because aint no way imma be doing this as my career for the rest of my life.
@Anjuvachi 2 жыл бұрын
LMAO
@mohammedshoaib7393 3 жыл бұрын
Sir shouldn't I first study accounting practical problems to understand this theory?
@SilverRose253 2 жыл бұрын
Would be nicer to add a white fond instead of black
@xgum 4 жыл бұрын
you talk like a zany, surprised cartoon character
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