Answered By: Peter Z McKay
Last Updated: Oct 29, 2014     Views: 65741

a. FASB ASC {Codification reference, for example:

i. Topics — FASB ASC 310 to access the Receivables Topic
ii. Subtopics — FASB ASC 310-10 to access the Overall Subtopic of Topic 310
iii. Sections — FASB ASC 310-10-15 to access the Scope Section of Subtopic 310-10
iv. Paragraph — FASB ASC 310-10-15-2 to access paragraph 2 of Section 310-10-15"

Note: "For clarity, companies may wish to include the title of the cited Codification section. "FASB ASC Topic 310" would appear as "FASB ASC Topic 310, Receivables and "FASB ASC Section 310-10-15" would appear as "FASB ASC paragraph 310-10-15, Receivables - Overall - Scope." To assist readers in the transition to the Codification, companies may present both the Codification citation and former reference. If companies use this presentation, citations to the former reference should follow the Codification reference in parentheses. For example, "FASB ASC paragraph 310-10-15, ReceivablesOverall- Scope(SFAS 131)." "
[Source: "The Codification of GAAP: Be Careful What You Wish For," by John J. Huber. Latham & Watkins Client Alert, No. 848 October 28,2009. Accessed on 4/15/2010 (TAX DAY!)]

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