FASB ASC 205 - Presentation of Financial Statements

FASB ASC Guide > FASB ASC 205

The Financial Accounting Standards Board (FASB) released the 200 section of the Accounting Standards Codification for the purpose of discussing the braod topic of Presentation. Accounting Standards Codification 205 (ASC 205) was released to address the more specific topic of how the financial statements must be presented. Financial statements have a very specific way of being presented to maintain conformity with standards, being comparable and being consistent. The main information shared within this is the different components of the financial statements, as well as guidance reporting entities. Adequate disclosures must be made to support the balances of the financial statements and discuss them in great enough detail to supply adequate information to the readers.

Check out more high level explanations of the FASB ASC in our Guide to the Accounting Standards Codification!

For more in depth information on this and other FASB ASC topics, check out the following books.

*Technical versions of the standards, authoritative literature can be found in the Financial Accoutning Standards Board website.

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)

Enter you Email and Win!

Sign up for our drawing for an Apple IPhone to help you organize your business contacts, calendar events, and more, by subscribing to our periodic newsletter. Simply add your email below and you will be enrolled. We will never, ever sell or spam your email, and you can cancel at any time!

Cite this page:

Contribute meaningful comments to the Accounting community...