Some companies followed Financial Accounting Standards Board Statement Number 8 (FASB 8) in completing the quarterly survey but later followed FASB 52 in completing the benchmark survey.
Under GAAP, the use of FASB 52 was required for reporting transactions for calendar or fiscal years beginning on or after December 15, 1982; for earlier years, restatements to reflect the use of FASB 52 were encouraged, but not required.
International organizations can easily revalue deferred revenue according to exchange rate fluctuations according to FASB 52
accounting rules, providing even more precise forecasting and visibility into your organization's bottom line.
The software is continually improved with the latest industry developments and market demAS and FASB 52
manufacturers and additionally, provides for financial transactions according to IAS and FASB 52
Automatic Calculation of Historical Exchange Rates - The Solomon IV Bi-Monetary Inventory Processing feature automatically calculates the historical rates for inventory and cost-of-goods-sold accounts as required by FASB 52
, SSAP 20 and IAS 21.