FASB Accounting Standards Updates

Effective July 1, 2009, changes to the source of authoritative U.S. GAAP, the FASB Accounting Standards Codification™ (FASB Codification), are communicated through an Accounting Standards Update (ASU). ASUs will be published for all authoritative U.S. GAAP promulgated by the FASB, regardless of the form in which such guidance may have been issued prior to release of the FASB Codification (e.g., FASB Statements, EITF Abstracts, FASB Staff Positions, etc.). ASUs also will be issued for amendments to the SEC content in the FASB Codification as well as for editorial changes.

An ASU is a transient document that (1) summarizes the key provisions of the project that led to the ASU, (2) details the specific amendments to the FASB Codification, and (3) explains the basis for the Board’s decisions. Although ASUs will update the FASB Codification, the FASB does not consider ASUs as authoritative in their own right.

Prior to the release of the FASB Codification as the single source of authoritative U.S. GAAP, the FASB amended pre-Codification standards and issued them in an “as amended” form. The FASB will not amend ASUs. It will only amend the FASB Codification.

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Copyright Notice
FASB Accounting Standards Updates are copyrighted by the Financial Accounting Foundation, 401 Merritt 7, Norwalk, Connecticut 06856. All rights reserved. The FASB Accounting Standards Updates available at this website may be used only for individual personal non-commercial purposes—you may print one copy for such use. No part of the FASB Accounting Standards Updates as available at this website may be further reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the Financial Accounting Foundation.


View FASB Accounting Standards Updates
  • Update No. 2009-15—Accounting for Own-Share Lending Arrangements in Contemplation of Convertible Debt Issuance or Other Financing

     
  • Update No. 2009-14—Software (Topic 985): Certain Revenue Arrangements That Include Software Elements—a consensus of the FASB Emerging Issues Task Force

  • Update No. 2009-13—Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements—a consensus of the FASB Emerging Issues Task Force

  • Update No. 2009-12—Fair Value Measurements and Disclosures (Topic 820): Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)

  • Update No. 2009-11—Extractive Activities—Oil and Gas—Amendment to Section 932-10-S99 (SEC Update)

  • Update No. 2009-10—Financial Services—Broker and Dealers: Investments—Other—Amendment to Subtopic 940-325 (SEC Update)

  • Update No. 2009-09—Accounting for Investments—Equity Method and Joint Ventures and Accounting for Equity-Based Payments to Non-Employees—Amendments to Sections 323-10-S99 and 505-50-S99 (SEC Update)


  • Update No. 2009-07—Accounting for Various Topics—Technical Corrections to SEC Paragraphs (SEC Update)

  • Update No. 2009-06—Income Taxes (Topic 740)—Implementation Guidance on Accounting for Uncertainty in Income Taxes and Disclosure Amendments for Nonpublic Entities

  • Update No. 2009–05—Fair Value Measurements and Disclosures (Topic 820)—Measuring Liabilities at Fair Value

     
  • Update No. 2009–04—Accounting for Redeemable Equity Instruments—Amendment to Section 480-10-S99 (SEC Update)

      
  • Update No. 2009–03—SEC Update—Amendments to Various Topics Containing SEC Staff Accounting Bulletins (SEC Update)

     
  • Update No. 2009–02—Omnibus Update—Amendments to Various Topics for Technical Corrections

     
  • Update No. 2009–01—Topic 105—Generally Accepted Accounting Principles—amendments based on—Statement of Financial Accounting Standards No. 168—The FASB Accounting Standards CodificationTM and the Hierarchy of Generally Accepted Accounting Principles

     
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