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FASB codification now has information on related XBRL elements.

Users of the FASB Accounting Standards Codification[TM] will now find it easier to access certain information about eXtensible Business Reporting Language (XBRL) elements of the U.S. Financial Reporting Taxonomy that link to the codification. The Financial Accounting Standards Board said that a new XBRL functionality at the FASB Accounting Standards Codification[TM] Web site will help preparers of XBRL financial statements identify XBRL elements that might need to be considered within those statements.

On July 1, the codification became the source of authoritative nongovernmental U.S. generally accepted accounting principles effective for interim and annual periods ending after Sept. 15, 2009. The codification provides a list of all XBRL elements that contain an electronic link to a codification paragraph and contains the complete XBRL element names together with all codification paragraphs referenced by a particular XBRL element.

To ensure that the taxonomy references the authoritative literature in the codification rather than the superseded legacy literature, XBRL-US in Aug. published a taxonomy extension including the codification references. The codification references include both the text-based codification reference (in the form of topic, subtopic, section, paragraph and subparagraph) and an electronic link to the related codification paragraphs.

The Notice to Constituents available at the codification Web site provides additional background on codification references and electronic links embedded in the U.S. Financial Reporting Taxonomy.
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Publication:CPA Letter
Date:Nov 1, 2009
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