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Proposed APB opinion : Accounting for income taxes;Accounting for income taxes; Exposure draft (American Institute of Certified Public Accountants), 1967, Sept. 14
American Institute of Certified Public Accountants. Accounting Principles Board
The Board's conclusions concerning some of the problems in accounting for income taxes are summarized as follows: a. Interperiod tax allocation is an integral part of the determination of income tax expense, and income tax expense should include the tax effects of all revenue and expense items included in the determination of pretax accounting income. b. Interperiod tax allocation procedures should follow the deferred method, both in the manner in which tax effects are initially recognized and in the manner in which deferred taxes are amortized in future periods. c. The tax effects of operating loss carrybacks should be allocated to the loss periods. The tax effects of operating loss carry forwards usually should not be recognized until the periods of realization. d. Allowable investment credits usually should be applied in the determination of income tax expense in those periods in which the costs of the related property giving rise to the investment credits enter into the determination of pretax accounting income through provisions for depreciation or amortization. e. Tax allocation within a period should be applied in order to obtain fair presentation of the various components of results of operations. f. Financial statement presentations of income tax expense and related deferred taxes should indicate clearly (1) the composition of income tax expense as between amounts currently payable and amounts representing tax effects allocable to the period, and (2) the classification of deferred charges and deferred credits into a net current amount and a net noncurrent amount.
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Funds Statement; Exposure Draft - April 1, 1963
American Institute of Certified Public Accountants. Accounting Principles Board
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Accounting for the investment credit; Exposure draft (American Institute of Certified Public Accountants), 1962, Nov. 1
American Institute of Certified Public Accountants. Accounting Principles Board
The Board therefore believes that the "investment credit" should be reflected in income over the productive life of the acquired facilities rather than in the year of their acquisition. Accordingly, the Board is of the opinion that the amount of the "investment credit" should be applied to reduce the recorded cost of the acquired facilities, either directly or by inclusion in an offsetting account which would be deducted from the cost of the facilities for purposes of both balance-sheet presentation and calculation of periodic depreciation.
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Accounting for the investment credit; Exposure draft (American Institute of Certified Public Accountants), 1962, November 1
American Institute of Certified Public Accountants. Accounting Principles Board
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Staff Accountants Questionnaire
American Institute of Accountants. Advisory Committee of Staff Accountants and Robert L. Starks
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Circular of Information, Syllabus, Bibliography
American Institute of Accountants. Board of Examiners
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Accountants Cooperate With Trade Commission in Considering Securities Act
American Institute of Accountants and United States. Federal Trade Commission
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Urgent Letter fromto Members and Associates of the American Institute of Accountants.
American Institute of Accountants. Special Committee on Revenue Laws
