Download Full Text (132 KB)
The Board believes the Income statement format recommended in Audits of Banks conforms with the principles of income statement presentation which are set forth in APB Opinion No. 9. Accordingly, the last two sentences of paragraph 6 of APB Opinion No. 9 are deleted and such Opinion is therefore applicable to financial statements issued by commercial banks for fiscal periods beginning after December 31, 1968.
Banks and banking -- Accounting -- Standards -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Accounting Principles Board, "Opinions of the Accounting Principles Board : Amending paragraph 6 of APB opinion no. 9, application to commercial banks;Amending paragraph 6 of APB opinion no. 9, application to commercial banks" (1968). Statements of Position. 340.