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Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts: December 1992: Amended by SFAS No. 120 114: Accounting by Creditors for Impairment of a Loan—an amendment of FASB Statements No. 5 and 15: May 1993: Amended by SFAS No. 118 115: Accounting for Certain Investments in Debt and Equity Securities: May 1993
Applicability of FASB Statement No. 2 to Business Combinations Accounted for by the Purchase Method—an interpretation of FASB Statement No. 2 Feb. 1975: Amended; 5. Applicability of FASB Statement No. 2 to Development Stage Enterprises—an interpretation of FASB Statement No. 2 Feb. 1975: Superseded by FASB Statement 7, para. 6; 6.
Accounting for leases in financial statements of lessors: Accounting Interpretations of APB Opinion No. 7, Interpretation 1: AIN-APB7: Superseded by FAS 111 1971 November-1972 February: Equity Method of Accounting for investments in common Stock: Accounting Interpretations of APB Opinion No. 18, Interpretations 1-3: AIN-APB18: Amended by FAS 96
Purchase price allocations are performed in conformity with the purchase method of merger and acquisition accounting. In the United States, a second method (known as the pooling or pooling-of-interests method) was discontinued after the issuance of the Statement of Financial Accounting Standards No. 141 “Business Combinations” (“ SFAS 141 ...
For example, an equipment loan would be ideal if a small business needs to purchase equipment. However, a line of credit could be better if a business plans to use the funds to cover larger, short ...
Loan amounts tend to be much smaller than term loans and are usually capped at $50,000, making them ideal for startups and small businesses that need a little bit of money to launch or expand. Pros
The FASB Accounting Standards Codification is the source of authoritative GAAP recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. In addition to the SEC's rules and interpretive ...
SBA loan statistics. According to the SBA, at the end of 2023 fiscal year:. $27.5 billion in SBA 7(a) loans was approved. Almost 70 percent of 7(a) loans were for amounts under $350,000