Because of the previous nature of U.S. generally accepted accounting principles (GAAP) with its multiple, scattered sources and various formats, accounting principles students have generally experienced GAAP indirectly through textbooks or class lectures. Recent changes in structure make U.S. GAAP easily accessible to first-year accounting students. The FASB Accounting Standards Codification (ASC), the single source for authoritative nongovernmental U.S. GAAP beginning July 1, 2009, provides a new logical, topical format and the Codification Research System supplies an online tool not previously available for performing research. Now, directed research using the Codification Research System can connect even introductory students to the real-world source of GAAP.
This article is from the Accounting Instructors’ Report, an electronic journal that provides teaching tips and insights to those who teach accounting and other business courses.
Elsie Ameen, Department of Accounting, Sam Houston State University
Alice Ketchand, Department of Accounting, Sam Houston State University