Search results
Results from the WOW.Com Content Network
For Interpretations see section 9551 of the final edition of the APB Accounting Principles, Volume 2, Original Pronouncements as of June 30, 1973. The interpretation numbers come from the Financial Accounting Board's Original Pronouncements as amended 2008/2009 Edition, volume 3 .
2: Accounting for Research and Development Costs: October 1974: 3: Reporting Accounting Changes in Interim Financial Statements: March 1975: Replaced by SFAS No. 154 4: Reporting Gains and Losses from Extinguishment of Debt: March 1975: Rescinded by SFAS No. 145 5: Accounting for Contingencies: March 1975: Amended by SFAS No. 11, 112 and 114 6
The FASB expects that the new system will reduce the amount of time and effort required to research an accounting issue, mitigate the risk of noncompliance with standards through improved usability of the literature, provide accurate information with real-time updates as new standards are released, and assist the FASB with the research efforts ...
DSO ratio = accounts receivable / average sales per day, or DSO ratio = accounts receivable / (annual sales / 365 days) Accounts receivable refers to the outstanding balance of accounts receivable at a point in time here whereas average sales per day is the mean sales computed over some period of time.
Decree 327/997 gives responsibility to the General Accounting Office of the Nation to draw up the General Framework for Public Accounting, including the master plan of accounts, and all related standards and to draft the financial statements for the Nation's Treasury and Public Accounts.
Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—a recission of GASB Statement No. 2 and an amendment of GASB Statement No. 31: Oct. 1997: Superseded by GASB 97; 33. Accounting and Financial Reporting for Nonexchange Transactions: Dec. 1998: Amended by various GASBS
2. Imputing Interest on Debt Arrangements Made under the Federal Bankruptcy Act—an interpretation of APB Opinion No. 21 June 1974: Superseded by FASB Statement 15, para. 10; 3. Accounting for the Cost of Pension Plans Subject to the Employee Retirement Income Security Act of 1974—an interpretation of APB Opinion No. 8 Dec. 1974
A high ratio implies either that a company operates on a cash basis or that its extension of credit and collection of accounts receivable is efficient. While a low ratio implies the company is not making the timely collection of credit. A good accounts receivable turnover depends on how quickly a business recovers its dues or, in simple terms ...