FASB Codification Now the Sole Authority on U.S. GAAP As Convergence with International Financial Reporting Standards Continues - On June 3, 2009, the FASB voted to approve the “codification” – a freshly re-organized body of standards that will have a significant impact on public companies as U.S. and international financial reporting systems continue to converge. The result is that the codification is now the sole authoritative stance on ... More >