FASB Statement

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FASB Statement

An official opinion by the Financial Accounting Standards Board on how to report a transaction. FASB statements set standards for the accounting industry and help establish uniform practice insofar as it is possible.

FASB Statement

A standard set by the Financial Accounting Standards Board regarding a financial accounting and reporting method. Essentially, FASB statements determine the acceptable accounting practices that Certified Public Accountants use in reporting corporate financial information to stockholders, the SEC, and the general public. See also APB opinion.
References in periodicals archive ?
A proposed new statement, Disclosure of Certain Loss Contingencies--an amendment of FASB Statements No.
155, Accounting for Certain Hybrid Instruments, an amendment to FASB Statements Nos.
45, Guarantor's Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others--an Interpretation of FASB Statements No.
91, Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases (an amendment of FASB Statements No.
was the first deal structured to align with the new FASB statements.
Consequently, if the Commission moves forward to adopt the proposed rules for loss accrual and valuation reserves generally, we recommend that it eliminate the references to tax contingency and valuation reserves that are already governed by FASB Statements No.
FASB Statements 106 and 112 would have increased the annual expense for these items in 1993.
158, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans (an amendment of FASB Statements No.
FASB Statements 157 and 159, both concerning Fair Value.
Could it be almost five years since FASB sent the business world's head spinning when it simultaneously proposed FASB statements nos.
You can find most of the authoritative guidance in FASB Statements 52, Foreign Currency Translation, for hedges of foreign currency items, and Statement 80, Accounting for Futures Contracts, for futures contracts used as hedging instruments.