ASU 2014-06

Since the FASB Accounting Standards Codification® was established in September 2009 as the source of authoritative U.S. generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities, stakeholders have provided feedback on minor corrections and clarifications using the Codification Research System’s feedback mechanism. The Codification’s Notice to Constituents describes the FASB’s procedure for responding to feedback submissions, which involves the staff analyzing and processing the submissions and including any resulting changes to the Codification in maintenance updates or in an Accounting Standards Update.