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Pending content is not necessarily effective.","topic":"105","topic_title":"Generally Accepted Accounting Principles","subtopic":"105-10","subtopic_title":"Overall","section":{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"105-10-10-1","para":"10-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_11EA7BB2-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The objective of this Topic is to establish the <em class=\"ph i\">Financial Accounting Standards Board (FASB) Accounting Standards Codification</em><sup class=\"ph sup\">®</sup> as the source of authoritative principles and standards recognized by the FASB to be applied by <a href=\"/glossary/n/#nongovernmental-entity\" class=\"term\" title=\"An entity that is not required to issue financial reports in accordance with guidance promulgated by the Governmental Accounting Standards Board or the Federal Accounting Standards Advisory Board.\"><span>nongovernmental entities</span></a> in the preparation of financial statements in conformity with generally accepted accounting principles (GAAP). Rules and interpretive releases of the Securities and Exchange Commission (SEC) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants.</span></span></div></div>","snippet":"The objective of this Topic is to establish the Financial Accounting Standards Board (FASB) Accounting Standards Codification® as the source of authoritative principles and standards recognized by the FASB to be applied …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:044a497ea450dc8cdc14d0cf17aa8d704f2441fc799f70cf520f7f5e1c45ba5a","downloaded_from":"2026-09-09T22:51:04.836Z","last_downloaded_at":"2026-09-09T22:51:04.836Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479419","source_sha256":"8a3965f0f67c77c72fe213dade5ea54445a2e294f796a42b5af4d2a4687c4e74"}},{"citation":"105-10-10-2","para":"10-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_11EA7D43-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This Topic also identifies the sources of accounting principles and the framework for selecting the principles used in the preparation of financial statements of nongovernmental entities that are presented in conformity with GAAP in the United States (the GAAP hierarchy).</span></span></div></div>","snippet":"This Topic also identifies the sources of accounting principles and the framework for selecting the principles used in the preparation of financial statements of nongovernmental entities that are presented in conformity …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fb48f076a0915b24b0a4c7f8a6398fcd5531e9013b07eafae14c493e4fca6bfa","downloaded_from":"2026-09-09T22:51:04.836Z","last_downloaded_at":"2026-09-09T22:51:04.836Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479419","source_sha256":"8a3965f0f67c77c72fe213dade5ea54445a2e294f796a42b5af4d2a4687c4e74"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ee102510545fdac2f7e044c9ebe554bb5671fa2022613e60ed807a95662005c7","downloaded_from":"2026-09-09T22:51:04.836Z","last_downloaded_at":"2026-09-09T22:51:04.836Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479419","source_sha256":"8a3965f0f67c77c72fe213dade5ea54445a2e294f796a42b5af4d2a4687c4e74"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:674bea21f49b06f9ed35018329c7112e9feb9cb2298b0a010f901e1262a7a8bb","downloaded_from":"2026-09-09T22:51:04.836Z","last_downloaded_at":"2026-09-09T22:51:04.836Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479419","source_sha256":"8a3965f0f67c77c72fe213dade5ea54445a2e294f796a42b5af4d2a4687c4e74"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:674bea21f49b06f9ed35018329c7112e9feb9cb2298b0a010f901e1262a7a8bb","downloaded_from":"2026-09-09T22:51:04.836Z","last_downloaded_at":"2026-09-09T22:51:04.836Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479419","source_sha256":"8a3965f0f67c77c72fe213dade5ea54445a2e294f796a42b5af4d2a4687c4e74"}}