FASB Codification SystemFASB Codification SystemThe Financial Accounting Standards Board(FASB) created a database and research system. The codification has given the FASB all accounting standards in one area of a system which is known as FASB Codification. The FASB web site issued by analysts, investors andmany other professionals to get the right information in a effect and efficiently way. The FASB codification has reduces the time spend on research data and is in one area to search. The types of content area available with the FASB Codification are as followed : GAAP issued by standard setter, Pronouncements issued by Financial Accounting Standards Board, Pronouncements issued by Emerging Issues task force, pronouncements issued by Accounting Standards for Executive Committee, pronouncements issue by Accounting Principles Board, Pronouncements of relevant portion by Securities and Exchange Commission, the pronouncements of relevant portions of authoritative issued by the selected SEC staff interpretations and Pronouncements that is issued b the SEC staff's administrative guidance.Most of the content areas are located in the FASB Codification system which includes thePresentation, Assets, Liabilities, Equity, Revenue, Expense , Broad transaction and the Industry. The Presentation offers the guidance on preparing the income statements, financial statements notes and how the calculation earnings per shares goes. Assets section shows data on accounting receivable and investments and the company inventory. The liabilities section shows the viewers where they can access the details of contingencies and liabilities from equity. The Equity section aids and show all details of status , recognition and SEC information that are record equity based payment for non employees. The revenue section is an area of guild lines with the revenue recognition and has up to date in the area of revenue recognition. The expense area show the expenses of procedures in how to report compensation, research and the development of income tax preparations . The Board Transactions contains the data on companies combinations, consolidation , fair value of measurements, disclosures, financial instruments , renters of property and equipment. The Industry shows the user information that is related to industries, which includes oil and gas, stock brokers and dealers, creditors and loanofficers.The FASB Codification has reorganized several thousands of United States GAAP pronouncements into many accounting areas. The codification did not change the GAAP , but made a new structure in making the standards easier , friendly way to research online. the FASB codification system has reduce the amount of time when do researching on accounting standards. The FASB Codification , has authoritative resources about any accounting standards one area . The web site is available for $150 per annual for academic access and expire every August 31. ReferencesFASB(2012) Summary of Statements Retrieved June 17,2012 http//asc.fasb.org/cs/contentserver?site=FAFdc...CFASB-Codification-System-Orientation Retrieved June 17,2012htttp://Hubpages.com/hub/FASB-CodificationWallace, W.A. (2008). Mastery of the Financial Accounting Research System(FARS) Through Cases. New York: