APB opinion

APB Opinion

An official opinion by the Accounting Principles Board on how to report a transaction. APB opinions set standards for the accounting industry and helped establish uniform practice insofar as it was possible. APB opinions have not been issued since 1973, when the APB was replaced by the Financial Accounting Standards Board. See also: FASB opinion.

APB opinion

A determination by the former Accounting Principles Board regarding the way a certain financial transaction is to be treated for reporting purposes. For example, APB Opinion 15 sets forth the ways in which convertible issues and common-stock equivalents are to be used in calculating earnings per share. In 1973 the Accounting Principles Board was superseded by the Financial Accounting Standards Board, thereby halting further APB opinions and initiating FASB Statements.
Mentioned in ?
References in periodicals archive ?
FASB freely admitted that the criteria used to define extraordinary items in APB Opinion 30 would seldom apply to debt extinguishments.
Keyword Search Results abbreviated Revenue recognition: ARB 43; APB Opinion 10; FAS 48; FAS 111; FTB 90-1; SAB Topic 13; SAB 101; SAB 104 Service contracts: FIN 46R; EITF 97-2; FAS 141R; EITF 08-1; EITF 99-19 Multiple deliverables: EITF 01-4; EITF 00-21; EITF 00-3; SAB 104; SAB 101
123, Accounting for Stock-Based Compensation, and supersedes APB Opinion No.
123, "Accounting for Stock-Based Compensation," and APB Opinion No.
The accounting treatment specified in APB Opinion No.
142, Goodwill and Other Intangible Assets, addresses financial accounting and reporting for acquired goodwill and other intangibles and supercedes APB Opinion 17.
The old accounting rules were established by APB Opinion 25, Accounting for Stock Issued to Employees.
Under APB Opinion 16, the excess of the assigned value over the tax basis of LIFO inventories acquired in a purchase business combination usually was treated as a permanent difference if the company did not inted to liquidate the tax basis LIFO layers.
00-23 "Issues Related to the Accounting for Stock Compensation under APB Opinion No.
Despite the introduction of this first formal (albeit incomplete) definition of GAAP, what was needed to constitute substantial authoritative support remained unclear, and thus enabled a given practice to be seen as included in GAAP even if it was not derived from an APB opinion.