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 ?
The company adopted the Financial Accounting Standards Board Statement of Financial Accounting Standards No.
Under Statement of Financial Accounting Standards 52, this will likely occur when reporting the results of operations in a country with a hyperinflationary currency, such as Brazil or Argentina.
The interpretation's full tide is The Use of Legal Interpretations As Evidential Matter to Support Management's Assertion That a Transfer of Financial Assets Has Met the Isolation Criterion in Paragraph 9(a) of Statement of Financial Accounting Standards No.
Generally, accruals of loss contingencies, such as pending litigation, recognized in accordance with Statement of Financial Accounting Standards No.
Accordingly, the inventories should have been stated at their estimated selling prices less cost of disposal as provided in the Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards No.
The quarterly results have been restated for the impact of Statement of Financial Accounting Standards No.
This was in conjunction with the Company's previously disclosed intent to adopt Statement of Financial Accounting Standards No.
B) During the second quarter of 1992, the company adopted Statement of Financial Accounting Standards No.
Management expects the sale or termination of its mortgage banking unit and the results of its operations will be accounted for as discontinued operations in accordance with Statement of Financial Accounting Standards No.
NASDAQ: NFSF) announced the adoption of the Statement of Financial Accounting Standards Number 109 "Accounting for Income Taxes" ("SFAS 109").
Management has now concluded that it needs to correct the accounting of certain derivative financial instruments under Statement of Financial Accounting Standards 133, Accounting for Derivative Instruments and Hedging Activities ("SFAS 133").
The loss was adjusted downward to reflect a tax benefit of $260,926 relating to the company's recent adoption of the new Statement of Financial Accounting Standards No.

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