The Codification was established to assist in reducing the time necessary to research an accounting issue and improve the ability to utilize accounting information that conforms with GAAP.

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The Codification was established by the Financial Accounting Standards Board (FASB) to organize the myriad of U.S. Generally Accepted Accounting Principles (GAAP) into a systematic structure, making it easier for professionals to find relevant accounting standards and thereby reducing the time needed for research and ensuring compliance with GAAP.

The Codification Was Established to Assist in Reducing the Time