Accounting Standards Executive Committee


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Accounting Standards Executive Committee

A committee of the American Institute of Certified Public Accountants that is permitted to make statements on the technical aspects of financial reporting without first clearing the statements with AICPA's board of directors. Its statements are not authoritative but have influence on the statements put out by other bodies, notably the FASB.
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This useful guide contains AICPA Accounting Standards Executive Committee (ASEC) Statements of position, with all pronouncements explained, using relevant terminology and practice-oriented real-world examples.
The AICPA, through its Accounting Standards Executive Committee, the technical committee authorized to speak on behalf of the AICPA regarding financial reporting matters, will continue its work on industry-specific accounting and audit guides to help the financial statement preparer community and CPAs in public accounting, and will consider ways to provide frequent updates to the A&A guides via electronic communications.
The Accounting Standards Executive Committee, the rule-making body of the American Institute of Certified Public Accountants, has issued Statement of Position 93-6, effective for fiscal years beginning after December 15, 1993 (the first quarter of 1994 for companies with calendar-year ends).
He also served on the AICPA's Accounting Standards Executive Committee, including three years as the Committee chairman.
The Accounting Standards Executive Committee has issued an exposure draft of a proposed Audit and Accounting Guide, Gaming.
3 will add non-CPA members to Else Auditing Standards Board and the Accounting Standards Executive Committee.
Recently, the Emerging Issues Task Force of the AICPA's Accounting Standards Executive Committee completed SOP 97-2, Revenue Recognition for Software companies.
Implementation guidance for both specific transactions and industry related issues can be developed either by a group such as the present FASB staff or by another entity, such as the AICPA's Accounting Standards Executive Committee (AcSEC).
The Accounting Standards Executive Committee of the American Institute of Certified Public Accountants issued SOP 04-2 to address the diversity in practice caused by a lack of guidance specific to real estate time-sharing transactions.
Instead, it takes the existing GAAP pronouncements from the FASB, the Emerging Issues Task Force, the AICPA's Accounting Standards Executive Committee, and other sources, and organizes them into roughly 90 topics using a consistent structure.
The AICPA accounting standards executive committee (AcSEC) issues Statement of Position (SOP) 03-3, Accounting for Certain Loans or Debt Securities Acquired in a Transfer (www.
But, according to AICPA sources, its Accounting Standards Executive Committee will discuss comments on the proposed SOP at its April meeting.
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