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 In 1973 the Accounting Principles Board was superseded by the Financial Accounting Standards Board, thereby halting further APB opinions and initiating FASB Statements.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 ?
Since 1973, GAAP (APB Opinion 28) has recognized the acceptability of presenting condensed interim information by public companies as provided for in Article 10 of the SEC's Regulation S-X.
For example: 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
142 states: This statement supersedes APB Opinion No.
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.
As such, the SB debits "interests in the net assets of the RO" and credits "change in net assets of the RO." This accounting treatment for the SB closely resembles the equity method of recording investments under APB Opinion No.
The Accounting Principles Board's opinion on business combinations (APB Opinion No.
Table One Changes in Accounting Standard on EPS Type of Firm Previous Standard New Standard (APB Opinion 15) (SFAS 128) Companies with a EPS Basic EPS simple capital structure Companies with a Primary EPS Basic EPS complex capital structure Fully Diluted EPS Diluted EPS