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Accounting Standards
Table of Contents:

The most recent information available about FASB Accounting Standards Codification is available at:
  • Accounting Research Manager Authentication Required
    A comprehensive financial reporting knowledge base. Updated daily, it aims to help reduce the amount of time you spend conducting accounting and auditing research while enhancing the quality of your results; find insightful interpretations on GAAP, GAAS and Securities and Exchange Commission rules; keep up-to-date on current accounting, SEC, auditing, and government projects that may affect your company. A 20 minute tutorial is available describing the database contents and showing how to use the database effectively.
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FASB Accounting Standards Codification
On July 1, 2009 the FASB launched the FASB Accounting Standards Codification as the single source of authoritative nongovernmental U.S. GAAP, combining and replacing the jumbled mix of accounting standards that have evolved over the last 50+ years. The Codification is effective for interim and annual periods ending after September 15, 2009. All existing accounting standards documents are superseded as described in FAS No. 168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles. All other accounting literature not included in the Codification is nonauthoritative.

While not intended to change U.S. GAAP, the Codification significantly changes the way in which accounting literature is organized. It is organized by accounting topic and this should enable users to more quickly identify the guidance that applies to a specific accounting issue. However, since the Codification will completely replace existing standards, the Codification will affect the way companies reference U.S. GAAP in their financial statements and accounting policies.

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Finding Financial Accounting Standards Board (FASB) Standards

  • Accounting Research Manager Authentication Required
    A comprehensive financial reporting knowledge base. Updated daily, it aims to help reduce the amount of time you spend conducting accounting and auditing research while enhancing the quality of your results; find insightful interpretations on GAAP, GAAS and Securities and Exchange Commission rules; keep up-to-date on current accounting, SEC, auditing, and government projects that may affect your company. A 20 minute tutorial is available describing the database contents and showing how to use the database effectively.
  • Accounting Standards. Original Pronouncements.
    Contains the Statements of Financial Accounting Standards issued by the FASB from its inception in 1973 to the present. A companion volume (v. 3) contains: Accounting Research Bulletins, APB Opinions, Interpretations of Accounting Research Bulletins and APB Opinions, FASB Interpretations, FASB Statements of Financial Accounting Concepts, and FASB Technical Bulletins. A shading technique is used to alert the reader when paragraphs containg accounting standards have been amended, superseded or deleted.
    • Location(s): WILSON and LAW HF5616 .U5 F537 Current edition in Business Reference
    Check MNCAT Record for Location and Availability
  • Accounting Standards. Current Text.
    The Financial Accounting Standards Board Current Text is an integration of currently effective accounting and reporting standards arranged by the major subject areas to which they apply. Subjects are arranged alphabetically.
    • Location(s): WILSON HF5616 .U5 A36 Latest edition in Business Reference
    Check MNCAT Record for Location and Availability
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Finding American Institute of Certified Public Accountants (AICPA) Standards
  • Accounting Research Manager Authentication Required
    A comprehensive financial reporting knowledge base. Updated daily, it aims to help reduce the amount of time you spend conducting accounting and auditing research while enhancing the quality of your results; find insightful interpretations on GAAP, GAAS and Securities and Exchange Commission rules; keep up-to-date on current accounting, SEC, auditing, and government projects that may affect your company. A 20 minute tutorial is available describing the database contents and showing how to use the database effectively.
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Finding U. S. Securities and Exchange Commission (SEC) Accounting Rules and Releases
  • Accounting Research Manager Authentication Required
    A comprehensive financial reporting knowledge base. Updated daily, it aims to help reduce the amount of time you spend conducting accounting and auditing research while enhancing the quality of your results; find insightful interpretations on GAAP, GAAS and Securities and Exchange Commission rules; keep up-to-date on current accounting, SEC, auditing, and government projects that may affect your company. A 20 minute tutorial is available describing the database contents and showing how to use the database effectively.
  • SEC Staff Accounting Bulletins
    Staff Accounting Bulletins reflect the US Securities and Exchange Commission staff's views regarding accounting-related disclosure practices. They represent interpretations and policies followed by the Division of Corporation Finance and the Office of the Chief Accountant in administering the disclosure requirements of the federal securities laws.
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Finding Governmental Accounting Standards Board Publications
  • Accounting Research Manager Authentication Required
    A comprehensive financial reporting knowledge base. Updated daily, it aims to help reduce the amount of time you spend conducting accounting and auditing research while enhancing the quality of your results; find insightful interpretations on GAAP, GAAS and Securities and Exchange Commission rules; keep up-to-date on current accounting, SEC, auditing, and government projects that may affect your company. A 20 minute tutorial is available describing the database contents and showing how to use the database effectively.
  • Governmental Accounting Standards Board.
    The mission of the Governmental Accounting Standards Board is to establish and improve standards of state and local governmental accounting and financial reporting that will result in useful information for users of financial reports and guide and educate the public, including issuers, auditors, and users of those financial reports.
  • Codification of governmental accounting and financial reporting standards
    (Governmental Accounting Standards Board).
    • Location(s): WILSON HJ9801 .F56a Latest edition in Business Reference.
    Check MNCAT Record for Location and Availability
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Finding Federal Accounting Standards Advisory Board Standards
The mission of the FASAB is to promulgate federal accounting standards after considering the financial and budgetary information needs of citizens, congressional oversight groups, executive agencies, and the needs of other users of federal financial information. Accounting and financial reporting standards are essential for public accountability and for an efficient and effective functioning of our democratic system of government. Thus, federal accounting standards and financial reporting play a major role in fulfilling the government's duty to be publicly accountable and can be used to assess (1) the government's accountability and its efficiency and effectiveness, and (2) the economic, political, and social consequences of the allocation and various uses of federal resources. This website provides access to all publications issued by FASAB including exposure drafts, the volumes presenting Original Pronouncements and current text, newsletters, minutes and meeting agendas.

If you have questions about state and local governmental entity accounting, please visit http://www.gasb.org/.

If you have questions about non-governmental entity accounting, please visit http://www.fasb.org/.

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Finding International Financial Reporting Standards
  • Accounting Research Manager Authentication Required
    A comprehensive financial reporting knowledge base. Updated daily, it aims to help reduce the amount of time you spend conducting accounting and auditing research while enhancing the quality of your results; find insightful interpretations on GAAP, GAAS and Securities and Exchange Commission rules; keep up-to-date on current accounting, SEC, auditing, and government projects that may affect your company. A 20 minute tutorial is available describing the database contents and showing how to use the database effectively.
  • International Financial Reporting Standards and the International Accounting Standards Board
    The IFRS Foundation is an independent, not-for-profit private sector organisation working in the public interest. Its principal objectives are:
    • to develop a single set of high quality, understandable, enforceable and globally accepted international financial reporting standards (IFRSs) through its standard-setting body, the IASB;
    • to promote the use and rigorous application of those standards;
    • to take account of the financial reporting needs of emerging economies and small and medium-sized entities (SMEs); and
    • to bring about convergence of national accounting standards and IFRSs to high quality solutions.
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Public Companies Accounting Oversight Board
Formed in 2002 to oversee the audit of public companies that are subject to the securities laws in the preparation of informative, fair and independent audit reports.

Section 103 of the Sarbanes-Oxley Act of 2002 directs the Board to establish auditing and related attestation, quality control, ethics, and independence standards and rules to be used by registered public accounting firms in the preparation and issuance of audit reports as required by the Act or the rules of the Securities and Exchange Commission. The Board's Office of the Chief Auditor advises the Board on the establishment of such auditing and related professional practice standards. The Board also seeks advice from its Standing Advisory Group and ad hoc task forces and working groups.

Section 102 of the Sarbanes-Oxley Act of 2002 prohibits accounting firms that are not registered with the Board from preparing or issuing audit reports on U.S. public companies and from participating in such audits. Section 106(a) of the Act provides that any non-U.S. public accounting firm that prepares or furnishes an audit report with respect to any U.S. public company is subject to the Board's rules to the same extent as a U.S. public accounting firm. Section 106(a) further authorizes the Board to require that non-U.S. public accounting firms that do not issue such reports, but that play a substantial role in the preparation of the audit reports, register.

Section 104 of the Sarbanes-Oxley Act of 2002 requires the Board to conduct a continuing program of inspections of registered public accounting firms. In those inspections, the Board assesses compliance with the Act, the rules of the Board, the rules of the Securities and Exchange Commission, and professional standards, in connection with the firm's performance of audits, issuance of audit reports, and related matters involving issuers. The Act requires the Board to conduct those inspections annually for firms that provide audit reports for more than 100 issuers and at least triennially for firms that provide audit reports for fewer issuers. The Act requires the Board to prepare a written report concerning each inspection. Under the Act and the Board's rules, the Board provides a copy of each report, in appropriate detail, to the Commission and to certain state regulatory authorities. The Board also makes portions of those reports available to the public, subject to restrictions in the Act that prohibit, or require a delay in, the public disclosure of certain information.

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Journal and Professional Literature
  • LexisNexis Academic Authentication Required
    LexisNexis Academic is a collection of online databases: News, Business (plus corporate news and corporate financials), Legal, Medical, and Reference. International news sources are included. Need some Lexis-Nexis searching help? Try our guided exercise on Searching LexisNexis Academic.

    Use the Accounting database in Lexis Nexis. First choose Subjects, then choose the Accounting link.

    The Accounting Database includes the following:

    • Accountant's Liability: Focuses on information needed to successfully litigate and defend accountant liability cases.
    • Accounting Series Releases: SEC interpretations of the many SEC documents, laws & rules affecting American securities, both private & public sectors.
    • Accounting Technology: Focuses on technology in accounting.
    • Accounting Today: Information on marketing and developing an accounting practice.
    • AICPA Accounting and Auditing Publications: Material from various American Institute of Certified Public Accountants (AICPA) publications. The file includes the full text of all the articles from the Journal of Accountancy, Tax Adviser, CPA Letter, and the Tax Division Newsletter.
    • AICPA CPA Letter: A publication of the American Institute of Certified Public Accountants (AICPA).
    • Journal of Accountancy: A publication of the American Institute of Certified Public Accountants (AICPA).
    • AICPA Publications: Contains authoritative and semiauthoritative professional accounting material. The file includes the full text of pronouncements from the American Institute of Certified Public Accountants (AICPA).
    • Controller's Report (IOMA): This publication provides financial management strategies.
    • FRR SEC Financial Reporting Release: SEC Financial Reporting Release.
    • John Wiley Publications: Includes material related to accounting, corporate governance, and other corporate issues. Each title is divided into multiple chapters. The following John Wiley titles are available through this form: Accounting Reference Desktop, Corporate Performance Measurement, Cost of Capital: Estimation and Applications, Essentials of Patents, Essentials of Trademarks and Unfair Competition, Intellectual Property, Intellectual Property Assets in Mergers & Acquisitions, Intellectual Property Damages: Guideline & Analysis, International Mergers & Acquisitions: Country by Country Tax Guide, Mergers, Acquisitions and Corporate Restructurings, Not for Profit GAAP, Patent Strategy: The Manager's Guide to Profiting from Patent Portfolios, The Technology M&A Guidebook, Transfer Pricing International: A Country by Country Guide, Wiley GAAP, Wiley GAAP for Governments, and Wiley IAS: Interpretation and Application of International Accounting Standards.
    • Journal of Business Strategy: Provides information influencing purchasing in the areas of consulting, acquisition and competitive analysis.
    • Practical Accountant: Provides users with practical tax and accounting money-making advice and time-saving tips.
  • Business Source Premier Authentication Required
    Use this popular research database to find business articles from 2,200 journals and magazines in marketing, management, information technology, operations, human resources, accounting, finance and economics dating back to 1965. Additional company and industry profiles from Datamonitor are included along with country reports and SWOT analyses.
  • Factiva Authentication Required
    Full text database of media outlets, trade publications, news sources and websites that has international coverage. Includes daily newspapers, transcripts, newswires, and all editions of the Wall Street Journal. Financial information for publicly traded companies, stocks, funds, currencies, and common market indexes. Limited to 7 simultaneous users.

    Due to licensing restrictions for academic subscriptions, not all of the news sources in Factiva are available. See this list of Excluded Titles. If you need assistance using Factiva, please contact the Journalism Librarian.
  • Google Scholar
    Connect to Google Scholar through the Libraries' web site to gain off-campus access to all the articles and journals in full text in the Libraries. Use Google Scholar to find articles from a wide variety of academic publishers, professional societies, preprint repositories and universities, as well as scholarly articles available across the web. To connect to the full text, click "FindIt@U of M Twin Cities" in your Google Scholar search results. Learn more: Google Scholar FAQ
  • Hein Online Authentication Required
    Full-text legal periodicals database with browse and full-text search features. Includes coverage of many older legal periodicals not available in electronic format elsewhere.
    Remote access available for University of Minnesota -- Twin Cities students, staff and faculty
  • LegalTrac
    Note: as of October 2011, LegalTrac is available only to the students, faculty and staff of the Law School. As alternative resources please try: LexisNexis, Hein Online, Academic Search Premier, Business Source Premier, Google Scholar.
    [Resource no longer available]
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September 2011

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