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Although the proposed hierarchy does not address this issue, the AICPA accounting standards division plans to issue an exposure draft of a proposed statement of position that would require not-for-profit organizations to follow ARBS, APB opinions and FASB standards except for those pronouncements that explicitly exempt such organizations. EADS' ARBS has undergone a rigorous flight test program, and is now in its final in-flight validation phase. The EADS ARBS successfully completed a series of key milestones, including fully extending and maneuvering the refueling boom in-flight, thereby advancing the system to the next phase of flight evaluations intended to clear its use throughout the full refueling test and operations envelope. |
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