Statements of Position

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Description

Management, accountants, and others often consult with professionals, including other accountants, on the application of accounting principles to new transactions and financial products. This proposed statement provides guidance to accountants who provide this service and establishes performance and reporting standards that (A) Apply (1) to written reports on the application of accounting principles and (2) to oral reports on a specific transaction when the reporting accountant concludes that the report is intended to be used by the principal to the transaction as primary support for a decision on the application of accounting principles; (B) Require consultation with a principal's continuing accountant when evaluating those accounting principles at the request of a principal that relate to a specific transaction.

Publication Date

1985

Relational Format

Book

Keywords

Business consultants -- United States; Consultants; 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.

Proposed statement on auditing standard : reports on the application of accounting principles ;Reports on the application of accounting principles; Exposure draft (American Institute of Certified Public Accountants), 1985, Dec. 6

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