Exposure Drafts, Comment Letters, and Statements of Position
Files
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Description
This proposed statement of position (SOP) would amend the Audit and Accounting Guide Audits of Investment Companies (the Guide) to provide guidance on financial reporting by investment partnerships for disclosures of investments, income, and partners' capital. It would require: 1. Including a list of investments in securities, as illustrated in the guide for management investment companies, with financial statements prepared in accordance with generally accepted accounting principles (GAAP). 2. Presenting a statement of operations in the format illustrated in the Guide. 3. Accounting for performance fees in accordance with partnership agreements and disclosing the amounts of and how such fees are computed.
Publication Date
1993
Relational Format
Book
Keywords
Mutual funds -- Auditing -- Standards -- United States; Mutual funds -- United States -- Accounting; Small business investment companies -- United States -- Accounting; Hedge funds -- United States -- Accounting; Partnership -- United States -- Accounting
Disciplines
Accounting | Taxation
Recommended Citation
American Institute of Certified Public Accountants. Investment Companies Committee, "Proposed statement of position : Financial reporting for investment partnerships : proposed amendment to AICPA audit and accounting guide Audits of investment companies ;Financial reporting for investment partnerships : proposed amendment to AICPA audit and accounting guide Audits of investment companies; Exposure draft (American Institute of Certified Public Accountants), 1993, Sept. 15" (1993). Exposure Drafts, Comment Letters, and Statements of Position. 589.
https://egrove.olemiss.edu/aicpa_sop/589
Comments
Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.