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When looking for accounting guidance I usually go to FASB codifications first, but I’m not finding it very helpful. Are there other places to look for accounting rules or is FASB the only place for US GAAP standards?
Currently I’m trying to find the GAAP standard for capitization on replacement parts or upgrades. I already know the rule (you can capitalize an asset if it extends its useful life, improves efficiency or provides some other economic benefit), I’m just trying to find the backup to support it, but I can’t find it anywhere on the FASB website.
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