Accounting for the investment credit; Exposure draft (American Institute of Certified Public Accountants), 1962, Nov. 1

Authors

American Institute of Certified Public Accountants. Accounting Principles Board

Files

Description

The Board therefore believes that the "investment credit" should be reflected in income over the productive life of the acquired facilities rather than in the year of their acquisition. Accordingly, the Board is of the opinion that the amount of the "investment credit" should be applied to reduce the recorded cost of the acquired facilities, either directly or by inclusion in an offsetting account which would be deducted from the cost of the facilities for purposes of both balance-sheet presentation and calculation of periodic depreciation.

Publication Date

1962

Relational Format

Book

Keywords

Investment tax credit -- Accounting -- Standards -- United States

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.

Recommended Citation

American Institute of Certified Public Accountants. Accounting Principles Board, "Accounting for the investment credit; Exposure draft (American Institute of Certified Public Accountants), 1962, Nov. 1" (1962). Exposure Drafts, Comment Letters, and Statements of Position. 337.
https://egrove.olemiss.edu/aicpa_sop/337