Exposure Drafts, Comment Letters, and Statements of Position

Files

Download

Download Full Text (3.7 MB)

Description

This proposed statement of position (SOP) would require all reporting entities (including business enterprises, not-for-profit organizations, and state and local governments) that prepare financial statements in conformity with generally accepted accounting principles to include in their financial statements disclosures about: 1. The nature of their operations. 2. Use of estimates in the preparation of financial statements. In addition, if specified disclosure criteria are met, it would require such entities to include in their financial statements disclosures about: 1. Certain significant estimates. 2. Current vulnerability due to concentrations. 3. Financial flexibility. The provisions of this proposed SOP would be effective for financial statements issued for fiscal years ending after December 15,1994, and for financial statements for interim periods in fiscal years subsequent to the year for which the proposed SOP is first applied. Early application is encouraged but not required.

Publication Date

1993

Relational Format

Book

Keywords

Disclosure in accounting; Financial statements; Risk management -- Accounting

Disciplines

Accounting | Taxation

Comments

Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.

Proposed statement of position : Disclosure of certain significant risks and uncertainties and financial flexibility;Disclosure of certain significant risks and uncertainties and financial flexibility; Exposure draft (American Institute of Certified Public Accountants), 1993, Mar. 31

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.