Statements of Position



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A refunding of debt is the replacement of old debt with new debt and takes place to obtain a preceived economic adavantage. This statement of position addresses accounting for advance refundings. It is not intended to modify APB Opinion 26, Early Extinguishment of Debt, or FASB Statement 4, Reporting Gains and Losses from Extinguishment of Debt. This statement of position should be applied to regulated companies that are subject to the rate-making process in accordance with the provisions of the Addendum.

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Tax accounting -- United States; Taxation, Exemption from -- United States; Taxation of bonds, securities, etc. -- United states


Accounting | Taxation


Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.

Proposed statement of position on accounting for advance refundings of debt;Accounting for advance refundings of debt; Exposure draft (American Institute of Certified Public Accountants), 1977, Dec. 27



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