Answer
In codification, FASB had three primary goals. The first involved simplifying user access by codifying all authoritative GAAP into one. The second was to ascertain that codified content correctly represented U.S. GAAP as of 2009. Creating a codified research system for the released results of standard-setting activity was the third goal.
Work Step by Step
Secondary goals involved: reducing time and effort spent in carrying out an accounting research, reducing the risk of non-compliance by availing usability of the literature, providing regularly updated precise information, and assisting the FASB with its research efforts.
