FAF launches free online GAAP and GARS libraries

The Financial Accounting Foundation officially launched enhanced, free online access to the Financial Accounting Standards Board's Accounting Standards Codification and the Governmental Accounting Standards Board's Governmental Accounting Research System.

While free versions of both the Codification and GARS have been available online for years, the new system provides enhanced features compared to the former free offering. These include enhancements to navigation, search, printing and copy/paste.

As a result of this change, the former "Professional View" paid subscription service has been eliminated. Current Professional View subscribers have been transitioned off the system and pro-rated refunds will be issued for those subscribers whose paid terms extend beyond today's cutover date.

The launch is actually a little earlier than expected, as the FAF previously had anticipated everything being ready in the spring.