Please answer the following questions based on your readings, lecture materials, and research of the FASB Accounting Standards Codification. Responses should be in your own words. You are allowed to quote language from other sources, but please do not plagiarize. Any information used from other sources must be cited. There is no requirement to utilize any specific citation format, so long as the author is given credit.

3) In your own words, describe how the codification is organized, and why you think it is organized this way. Discuss both the organization of the code, and the organization of each pronouncement (the numbering system). 10 pts