Download Full Text (3.5 MB)
A diversity of financial reporting practices exists for companies in the development stage and the type of auditors' report has varied widely for factual situations that appear to be comparable. This audit guide recommends practices which should result in the presentation of useful financial information by these companies with less variation in the form of the financial statements and in the accompanying auditors' reports. The recommendations presented herein are applicable to any company, in any industry, which is in the development stage.
New business enterprises -- United States -- Accounting
Accounting | Taxation
American Institute of Certified Public Accountants. Committee on Companies in the Development Stage, "Accounting for companies in the development stage" (1973). Statements of Position. 352.