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FASB Summaries |
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Statement No. 32 Specialized Accounting and Reporting Principles and Practices in AICPA Statements of Position and Guides on Accounting and Auditing Matters-an amendment of APB Opinion No. 20 STATUS Issue Date: September 1979 Effective Date: October 31, 1979 Affects: Supersedes APB 20, footnote 5 Affected by: Appendix A amended (SOP 74-6) by FAS 77 Appendix A amended (SOPs 74-12 and 76-2) by FAS 65 Appendix A amended (SOP 75-1) by FAS 48 Appendix A amended (SOP 75-5) by FAS 63 Appendix A amended (SOPs 75-6 and 78-4 and Real Estate) by FAS 66 Appendix A amended (SOP 76-1) by FAS 50 Appendix A amended (SOP 78-3) by FAS 67 Appendix A amended (SOP 78-5) by FAS 76 Appendix A amended (SOPs 78-6 and 79-3 and Insurance) by FAS 60 Appendix A amended (SOP 78-8) by FAS 49 Appendix A amended (SOP 79-2) by FAS 51 Appendix A amended (SOP 79-4 and Motion Picture Films) by FAS 53 Appendix A amended (Franchise Fee Revenue) by FAS 45 Appendix A amended (Construction Contractors) by FAS 56 Appendix A amended (Banks, Brokers and Dealers in Securities, Employee Health and Welfare Benefit Funds, and Personal Financial Statements) by FAS 83 Appendix B amended by FAS 56, FAS 60, and FAS 67 Appendix B superseded by FAS 83 Superseded by FAS 111 Abbreviations for Accounting Pronouncements FAS - FASB Statements FIN - FASB Interpretations FTB - FASB Technical Bulletins APB - APB Opinions AIN - AICPA Interpretations ARB - Accounting Research Bulletins CON - FASB Concepts EITF - EITF Issues Q&A - FASB Implementation Guides SUMMARY The Board has agreed to exercise responsibility for the specialized accounting and reporting principles and practices in the AICPA Statements of Position and Guides on accounting and auditing matters by extracting those specialized principles and practices from those documents and issuing them as FASB Statements, after appropriate due process. This has created uncertainty regarding the ongoing status of those specialized principles and practices. This Statement specifies that the specialized accounting and reporting principles and practices contained in the AICPA Statements of Position and Guides on accounting and auditing matters designated herein are preferable accounting principles for purposes of justifying a change in accounting principles as required by APB Opinion No. 20, Accounting Changes. Copyright by Financial Accounting Standards Board. All Rights Reserved. Used by Permission.
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