FASB Accounting Standards CodificationTM

Today the Financial Accounting Standards Board (FASB) launched the FASB Accounting Standards CodificationTM as the single source of authoritative U.S. generally accepted accounting principles (GAAP) for nongovernmental entities. The Codification is effective for interim and annual periods ending after September 15, 2009. This new system is clearly organized, user-friendly and accessible online at http://asc.fasb.org.