88-22, transfers of participating interests in credit card receivables to investors could be accounted for
as sales if the conditions specified in paragraph 5 of FASB Statement no.
Essentially, IFRS 4 allows insurance contracts to continue to be accounted for
under local GAAP methods,"as long as they can be identified as insurance contracts," said Nagari, whose London-based group is developing a "global interpretation" of IFRS, along with PwC's position on the implications of IFRS 4 for insurance contracts.
Further, the taxpayer must attach a statement to the Form 3115, describing all items marked to market that will no longer be accounted for
under that method.
This led the Fifth Circuit to allow depreciation and ITC on the nonrecoverable cushion gas, but to require the recoverable cushion gas to be accounted for
Taken together, and with the exception of money orders, I would conclude that, in general, these kinds of penalty fees have risen sharply over the past few years, and in most cases the rise has been greater than that accounted for
by overall inflation.
WALTER SCHUETZE: The SEC has been urging the Financial Accounting Standards Board to require that marketable debt and equity securities be accounted for
at fair value or market value in the face of the financial statements.
Certain leases that have been accounted for
previously as operating leases should instead be accounted for
as capital leases.
Deals of this size frequently are accounted for
as poolings and often are contingent on the acquirer receiving pooling accounting treatment.
Compound instruments--Should the fundamental components of some compound instruments be accounted for
and displayed separately in the balance sheet?
Utilities most frequently accounted for
nuclear decommissioning costs (the method approximately 57% of utilities used) by recording the costs as a part of depreciation expense with a corresponding entry to accumulated depreciation.