What is the difference between the codification and the codification research system?

The financial accounting standards board (FASB), accounting standards codification (codification) is an accumulation of all generally accepted accounting principles (GAAP) in one place.

Its objective is to merge all the existing GAAP and not create a new one. The accumulated GAAP created by the process of codification is considered an authorized one.

• Codification means coding of all the accounting standards that are present within the generally accepted accounting principles, whereas codification research system (CRS) means performing research in accounting principles within the generally accepted accounting standards.
• The objective of codification is to assemble accounting standards. On the other hand, the codification research system’s (CRS) objective is to enhance its efficiency in the search for information within the accounting standards.
• Codification relieves the user by providing the framework for accessing and finding data, whereas CRS helps in evaluating and implementing new methods to improve the codes and decrease the time taken by the users.
• Codification also clarifies user access and actual representation of authorized U.S generally accepted accounting principles (GAAP). On the other hand, the codification research system’s task is to create an updated codification research system for the released result of the standard-setting activity.