Answer
The first three fragments of FASB Codification (as indicated in its table of contents) focus on the balance sheet constituents: (i)assets, (ii) liabilities, and (iii) equity, respectively. The second portion of codification focuses on the income statement components: (i) revenues and (ii) expenses.
Work Step by Step
The first three fragments of FASB Codification (as indicated in its table of contents) focus on the balance sheet constituents: (i)assets, (ii) liabilities, and (iii) equity, respectively. The second portion of codification focuses on the income statement components: (i) revenues and (ii) expenses.
