Search results
Results from the WOW.Com Content Network
Accounting Principles Board Opinions, Interpretations and Recommendations were published by the Accounting Principles Board from 1962 to 1973. The board was created by American Institute of Certified Public Accountants (AICPA) in 1959 and was replaced by Financial Accounting Standards Board (FASB) in 1973.
Superseded by FASB Statement 52, para. 3; 16. Clarification of Definitions and Accounting for Marketable Equity Securities That Become Nonmarketable—an interpretation of FASB Statement No. 12 Feb. 1977: Superseded by FASB Statement 115, para. 124; 17.
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 ...
Equity method in accounting is the process of treating investments in associate companies.Equity accounting is usually applied where an investor entity holds 20–50% of the voting stock of the associate company, and therefore has significant influence on the latter's management.
Accounting Standards Codification, the only source of authoritative nongovernmental U.S. GAAP. In 2009, the Codification superseded the FASB's Statements of Financial Accounting Standards. 168 standards had been issued before the Codification. Concepts Statements, first issued in 1978. They are part of the FASB's conceptual framework project ...
The set of guidelines prescribed by SFAS 141r are generally found in ASC Topic 805. Outside the United States, the International Accounting Standards Board governs the process through the issuance of IFRS 3. Purchase price allocations are performed in conformity with the purchase method of merger and acquisition accounting.
Upon electing to use hedge accounting, companies must establish a method to evaluate the effectiveness of hedging a derivative, and a method to determine the ineffectiveness of a hedge. [53] The FASB further improved derivative accounting in 2017 with simplification measures included in ASU 2017–12. [54]
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]