This question is about staff accountant skills.

What does ASC stand for in accounting?

By Zippia Team - Dec. 9, 2022

In accounting, ASC stands for Accounting Standards Codification. Since 2009, the ASC has been the single source of authoritative US standards for nongovernmental entities. The ASC created a codified database that includes various standards and documents that accountants can use to guide their methods.

ASC establishes best practices for working accounts and gives working accountants and companies clear guidelines and principles to follow while working. Some documents can explain step-by-step methods to account for different topics, such as how to account for revenue earned in business operations.

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