Hierarchy of authoritative literature/codification?

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  • #196624
    Oneday
    Participant

    Can anyone organize the hierarchy of the authorized literature/codification?

    No matter how much I read, it feels very scattered in my head…

    At this point, I think of them something like this:

    SEC appoints –> FASB ASC = GAAP > SFAS > (non authoritative) SFAC

    This is my rough picture, but I’m not sure if this is correct…

    Thanks!

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