FASB accounting standard codification paid research tool to be free of charge

The Financial Accounting Foundation, parent organization of the Financial Accounting Standards Board, yesterday announced it would provide free, enhanced online access to the Accounting Standards Codification and the Governmental Accounting Research System to make financial accounting standards widely accessible to stakeholders and the public. The ASC represents all of the Generally Accepted Accounting Principles and the research system will allow users to more easily research topics and maintain notes.

FAF said it has not yet determined the date for the change, but it is expected to occur this spring. A free version of the ASC has been available online for years, but the new system will provide enhanced features compared to the current free offering, including enhancements to navigation, search, printing, copy/paste and the ability to provide feedback for improvements.