Financial Accounting Foundation Launches Enhanced Online Access to Accounting Standards
The Financial Accounting Foundation (FAF) has launched its free, enhanced online access to the Accounting Standards Codification® and the Governmental Accounting Research System™, implementing a change announced to stakeholders last month.
The Accounting Standards Codification® (“the Codification”) is the complete and official version of Generally Accepted Accounting Standards (GAAP) published by the Financial Accounting Standards Board (FASB). The Governmental Accounting Research System™ (“GARS”) is the complete and official version of GAAP published by the Governmental Accounting Standards Board (GASB).
While free versions of both the Codification and GARS have been available online for years, the new system provides enhanced features compared to the former free offering. These include enhancements to navigation, search, printing and copy/paste.
As a result of this change, the former “Professional View” paid subscription service has been eliminated. Current Professional View subscribers have been transitioned off the system and prorated refunds will be issued for those subscribers whose paid terms extend beyond the cutover date of Feb. 27.
The enhanced Accounting Standards Codification® can be accessed at https://asc.fasb.org, and the Governmental Accounting Research System™ can be accessed at https://gars.gasb.org.