External resource

FASB Accounting Standards Codification Topic 105, Generally Accepted Accounting Principles

Authoritative US GAAP starting point for the Codification's status and the source hierarchy used when no guidance directly addresses a transaction.

Authority and currency

About this authority

Publisher: Financial Accounting Foundation
Standing: Primary authority
Version: Topic 105 as accessed 2026-09-07
Relevant parts: Subtopic 105-10, including paragraphs 105-10-05-1 through 05-3
Currency: current · checked Sep 7, 2026

Open the primary source

Topic 105 identifies the sources of authoritative United States generally accepted accounting principles (US GAAP) for nongovernmental entities. Applicable Securities and Exchange Commission rules and interpretive releases are also authoritative GAAP for SEC registrants.

When no authoritative guidance directly addresses a transaction, first consider authoritative guidance for similar transactions. Nonauthoritative sources, including FASB Concepts Statements, can then inform the analysis. Open the current Codification paragraphs and verify that they apply to the entity and reporting period before relying on them.