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Investment companies, with conforming changes as of May 1, 2009 full-text: See also ASC section 946 (Financial Services--Investment Companies) 34-21: 2010: Investment companies, with conforming changes as of May 1, 2010 full-text: See also ASC section 946 (Financial Services--Investment Companies) 34-22: 2011
Clarification of the scope of the audit and accounting guide investment companies and accounting by parent companies and equity method investor for investments in investment companies: 2007 June 11 09-1: Performing agreed-upon procedures engagements that address the completeness, accuracy, or consistency of XBRL-tagged data full-text: 2009 ...
The Financial Accounting Standards Advisory Council then voiced its concerns due to the increase of financial reporting guidance from the old U.S. GAAP standards, and the FASB responded by launching a new project to codify the standards. The project was approved in September 2004 by the Trustees of the Financial Accounting Foundation. [2]
Investment companies invest money on behalf of their clients who, in return, share in the profits and losses. Investment companies are designed for long-term investment, not short-term trading. Investment companies do not include brokerage companies, insurance companies, or banks. In United States securities law, there are at least five types ...
The Financial Accounting Standards Board (FASB) publishes and maintains the Accounting Standards Codification (ASC), which is the single source of authoritative nongovernmental U.S. GAAP. [2] The FASB published U.S. GAAP in Extensible Business Reporting Language (XBRL) beginning in 2008.
This article is an incomplete list of Financial Accounting Standards Board (FASB) pronouncements, which consist of Statements of Financial Accounting Standards ("SFAS" or simply "FAS"), Statements of Financial Accounting Concepts, Interpretations, Technical Bulletins, and Staff Positions, which together presented rules and guidelines for preparing, presenting, and reporting financial ...
The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds. It was passed as a United States Public Law ( Pub. L. 76–768 ) on August 22, 1940, and is codified at 15 U.S.C. §§ 80a-1 – 80a-64 .
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]