Disclosure of accounting policies is governed by Accounting Principles Board
In 1959, the American Institute of Certified Public Accountants (Institute, AICPA) appointed a new body, the Accounting Principles Board
(APB), to succeed the Committee on Accounting Procedure (CAP).
FASB statements and interpretations, Accounting Principles Board
opinions, and AICPA accounting research bulletins.
According to the Accounting Principles Board
(1967), a deferred tax liability of $50 would have been recognized (1,000 - 800) * 0.
In 1959, the AICPA revised the standards-setting structure by creating the Accounting Principles Board
(APB), which was intended to have greater authority to promulgate accounting standards.
The Accounting Principles Board
replaces the CAP as the Institute's authoritative financial accounting body.
However, an exception for the excess attributable to undistributed earnings is provided in Accounting Principles Board
123), "Accounting for Stock-Based Compensation," which allows companies to choose whether or not they want to expense the fair value of employee stock options in their financial statements or continue to follow Accounting Principles Board
For example, Accounting Principles Board
(APB) Opinion 17 indicates that one general problem associated with accounting for long-lived assets is determining when carrying amounts have declined "permanently and substantially.
Accounting Principles Board
Statement 30, to which public companies are generally subject under SEC rules.
For the first time, the Statements of the Financial Accounting Standards Board (FASB), and the Opinions of the Accounting Principles Board
(APB) are contained in the same text.
A big part of the problem is the myriad of standards--a complicated and unclear mishmash of over 200 pronouncements issued by the Financial Accounting Standards Board (FASB), the Accounting Standards Executive Committee (AcSEC) of the American Institute of Certified Public Accountants (AICPA), the Accounting Principles Board
(APB), the U.