Proposed APB opinion : Accounting for investment tax credits;Accounting for investment tax credits; Exposure draft (American Institute of Certified Public Accountants), 1971, Oct. 22

Authors

American Institute of Certified Public Accountants. Accounting Principles Board

Files

Description

This proposed Opinion was drafted on the basis of the bill (HR 10947) passed by the House October 6 and will require that benefits arising from investment tax credits be accounted for as reductions of income tax expense over the periods in which the cost of the related property is charged to income. In taking final action, the Board will, of course, take into consideration any changes in relevant provisions of the law as finally enacted that differ substantially from those provisions in the House bill.

Publication Date

1971

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, "Proposed APB opinion : Accounting for investment tax credits;Accounting for investment tax credits; Exposure draft (American Institute of Certified Public Accountants), 1971, Oct. 22" (1971). Exposure Drafts, Comment Letters, and Statements of Position. 342.
https://egrove.olemiss.edu/aicpa_sop/342