1. What is the Accounting Standards Codification?
2. The new standard (FASB No. 168) essentially reduced the GAAP hierarchy to how many levels ?
3. Why was it thought necessary to codify U.S. GAAP?
4. What are the goals of the codification?
5. What types of existing literature was included in the codification?
6. What are some examples of literature that was excluded from the codification?
7. How is the codification structured?
   

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