Statements of Position



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A recent development in the investment company industry is the municipal bond fund (or tax-exempt bond fund) in corporate form made possible by the Tax reform act of 1976. This proposed addition to the audit guide presents the Committee's views on accounting and reporting matters and other considerations relating to municpal bond funds. While the discussion of taxes and distribution policies refers specifically to municipal bond funds in corporate form, the discussion of valuation and other matters applies to municipal bond funds in corporate form, partnership form, and unit investment trusts.

Publication Date


Relational Format



Accounting -- Standards; Municipal bonds


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 municipal bond funds;Accounting for municipal bond funds; Exposure draft (American Institute of Certified Public Accountants), 1978, Jan. 16



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