< GAAP System Hierarchy FASB Conceptual Framework Objectives, Qualitative Characteristics, Elements ASC Topics (Codification) Detailed Technical Standards by Subject Matter ASUs Updates and Changes to Standards Implementation Guidance FASB Staff Positions & Interpretations Industry-Specific Guidance Banking, Insurance, Airlines, Healthcare, etc. Practical Application Recognition Criteria - Probable Future Benefits/Obligations - Reliable Measurement Measurement Principles - Historical Cost - Fair Value Disclosure Requirements - Financial Statements - Notes & Supplementary Info Quality Controls - Internal Controls - Audit Requirements Hello, World! FASB/IASB (Private Sector) SEC (Public Sector) GAAP Lattice of Standard Tools Principles, Standards, Guidelines Company Scaffolding Company Value Engine Operating Segments Chart of Accounts Reporting Reconciliation Consolidation Market Regulation Federal Regulations Investor Protection Free Market Principles Filing EDGAR Public Access Platform Security Asset Market Trading Growth Enablement Executive Team Hidden Cost Model Charts of Accounts Financial Assumptions Spending Patterns Analysis Engine Value Engine 1. Calibrate 2. Collect 3. Validate Decision Framework Optimization Strategies Structured Decision-Making Common Foundation Leadership Action Decide 1. Review 2. Decide 3. Share Operational Truth Center Integrated View of Financial Reality and Operational Performance Governance Framework Principles Matching Consistency Full Disclosure Relevance & Prudence Standards ACS 280: Segment Reporting ACS 720: Cost of Sales ACS 606: Revenue Recognition ACS 340-40: Contract Costs Guidelines FASB ACS 235: Allocation SEC Reg S-X: Pro Forma ASC 720: SG&A Reporting SOX 404: Internal Controls Operational System Growth Enablement Hidden Cost Model Applies: ACS 720, ACS 280 Follows: Matching & Consistency Guided by: FASB ACS 235 Value Engine Process Applies: ACS 606, ACS 340-40 Follows: Relevance & Prudence Guided by: SOX 404 Executive Decision Making Analysis Framework Applies: Segment Reporting Follows: Full Disclosure Guided by: SEC Pro Forma Leadership Action Applies: ASC 720 Guidelines Follows: Consistency Guided by: Internal Controls
