Document Type
Article
Publication Date
1942
Abstract
The Securities and Exchange Commission today announced the issuance of an opinion in its Accounting Series Releases regarding the treatment by an investment company of interest collected on defaulted bonds applicable to a period prior to the date on which such bonds and defaulted interest were purchased. The opinion indicates that collections on account of the principal of the bonds and the defaulted interest coupons should not be treated as income until such time as the full purchase price has been recovered.
Relational Format
article
Series Title
Accounting Series Release No. 036;Securities Act of 1933 Release No. 2877;Securities Exchange Act of 1934 Release No. 3327;Investment Company Act of 1940 Release No. 402
Recommended Citation
United States. Securities and Exchange Commission and Werntz, William W., "Securities and Exchange Commission today announced the issuance of an opinion in its Accounting Series Releases regarding the treatment by an investment company of interest collected on defaulted bonds applicable to a period prior to the date on which such bonds and defaulted interest were purchased" (1942). Federal Publications. 125.
https://egrove.olemiss.edu/acct_fed/125