Accounting Principles Board


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Accounting Principles Board

A committee of the American Institute of Certified Public Accountants that advised on and set standards for financial record keeping. It was dissolved in 1973 and replaced by the Financial Accounting Standards Board.

Accounting Principles Board (APB)

A group of accountants appointed by the American Institute of Certified Public Accountants to determine accounting principles for financial record keeping. The APB was terminated in 1973 with the founding of the Financial Accounting Standards Board.
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Accounting Principles Board (APB) (1962), "Accounting for the 'Investment Credit'," Opinion No.
Accounting Principles Board, 1971, Accounting Changes, Accounting Principles Board Opinion No.
The Institute's Council adopted the report in April 1959, and the Accounting Principles Board (APB) was launched on September 1, 1959, (33) almost one year after the special committee submitted its report.
So, in 1959, the AICPA established the Accounting Principles Board (APB), and the SEC required public companies to apply its standards.
* The American Accounting Association calls for an alternative to the Accounting Principles Board.
For those who are so naive as to think footnotes are made inform investors by giving them complete information, let me illustrate the reality of our very low standards in this regard by referring to a recent action of the Accounting Principles Board. [The APB] decided that the dollar effects of a particular accounting practice under consideration should be disclosed in a footnote explanation.
The Accounting Principles Board (APB) averaged only two Opinions per year during its existence (1958-1973), but the Financial Accounting Standards Board (FASB) has generated 147 Statements, not counting Interpretations, and the SEC has issued a plethora of regulatory pronouncements.
141, Business Combinations, addresses financial accounting and reporting for business combinations and supercedes Accounting Principles Board (APB) Opinion 16 rules on purchase and pooling accounting.
The Accounting Principles Board issued Opinion #20 in 1971 to provide guidance and maintain consistent treatment when firms--and accountants--deal with accounting changes.
Investments in common stock accounted for under the equity method for financial reporting purposes in accordance with Accounting Principles Board Opinion No.
A big part of the problem is the myriad of standards--a complicated and unclear mishmash of over 200 pronouncements issued by the Financial Accounting Standards Board (FASB), the Accounting Standards Executive Committee (AcSEC) of the American Institute of Certified Public Accountants (AICPA), the Accounting Principles Board (APB), the U.S.
This committee later would become the Accounting Principles Board, and its duties ultimately would be taken over by the FASB.