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FASB Codification Pending Content System

PCS Profile information in Checkpoint
Edge

In the Profile Information section of the Pending Content System Profile Settings page, you must enter the following information.

Profile name

You can create multiple profiles with relevant, recognizable and distinctive Profile Names.

Fiscal year beginning date

The Pending Content System requires the beginning date of the entity’s fiscal year and not the ending date of the entity’s fiscal year. For example, for a calendar-year entity, enter 01/01/XXXX, not 12/31/XXXX. This is the first date of the annual period that an entity uses for GAAP accounting purposes and/or preparing GAAP financial statements.
  • If you select
    Interim Period
     in the
    Period Type
     field, you should not use the first date of that interim period for the
    Fiscal Year Beginning Date
     field. Enter the first date of the annual period in which that interim period falls.
  • The Pending Content System limits the
    Fiscal Year Beginning Date
     field to a three-year window before and after the actual date the user is utilizing the system.
  • A saved profile that is no longer within the required three-year window cannot be enabled unless you change the date, review all settings and make your integration choices. Instead of using the Pending Content System to access prior content, you can use Prior Code to find the applicable content for a prior Codification Section. You can also refer to the Codification Archives to access quarterly snapshots of the Codification since it was first released.

Filing status

Select from the listed Public and Non-Public Entity types.

Period type

This refers to whether you want to access requirements that relate to either an annual period or an interim period. Pending content for an interim period can have a required effective date that is much later than the required effective date for an annual period.
The inputs for your entity’s fiscal year beginning date, filing status, and period type impact the standards that are available to be early adopted as well as those standards that are automatically integrated or not integrated by the Pending Content System. When modifying Profile Information, any changes made to the Fiscal Year Beginning Date, Filing Status, or Period Type will reset all selections. This means that for special cases and early adoptions you will need to reselect if you want to integrate any standards.

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