FASB and EITF Pronouncements

Related BrainMass Solutions

• Match the description to the pronouncements

  Accounting Standards 4. _____ EITF Statements 5. _____ Opinions 6. _____ Statement of Financial Accounting Concepts (a) Official pronouncements of the APB.

• FASB

  The FASB had taken up the task of integrating all accounting pronouncements and integrated them topic wise issued by the standard setters including those by FASB, the EITF, and the AICPA. The major goal is simplification and ease of access.

• Predict the role of the EITF should the accounting ...

  The main role of the EITF is to assist the FASB in improving financial reporting, and the EITF does this by the identification, discussion, and resolution of accounting issues that arise from FASB Codification.

• Disclosure of Accounting Polices

  Golden, FASB's Director of Technical Application and Implementation Activities, is chairman of the Task Force. FASB Board members also attend EITF meetings and participate in the discussion.

• Emerging Issues Task Force: Multiple exchange rates

  Introduction The Emerging Issues Task Force (EITF) was formed in 1984 by Financial Accounting Standards Board (FASB) in response to recommendations of the FASB task force on timely financial reporting guidance (FASB, 2011).

• FASB's current definition of depreciation

  Then summarize briefly what your responses are, citing the pronouncements and paragraphs used to support your responses. FASB ASC 9-1 Depreciation Several pronouncements by authoritative accounting bodies deal with depreciation.

• When to expense or capitalize a business website.

  By utilizing the recommendations of the AICPA, FASB, and Emerging Issues Task Force (EITF), I present formal justification on how to treat such a question faced by business owners.

• Coca Cola Company and PepsiCo

  In July 2001, the FASB also issued SFAS 142, "Goodwill and Intangible Assets."

• The relationship between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB)

  Conclusion: This paper has discussed the history of the FASB and IASB boards and their relationship and has looked at IASB equivalents to FASB original pronouncements.