Such a mismatch arises because financial assets will be
accounted for at fair value--they will be marked to market value for every reporting period--as outlined in IAS 32.
This is
accounted for as a cumulative effect of accounting change in accounting principle in accordance with APB Opinion no.
And many utilities had
accounted for deposits as loans, but had agreed on audit or at Appeals to start reporting the deposits as income.
96, Treasury Stock Acquisitions Following Consummation of a Business Combination
Accounted for as a Pooling of Interests.
This also is true for utilities that
accounted for nuclear decommissioning costs exclusively as a liability.
These equity securities are those with readily determinable fair values not
accounted for under the equity method or as investments in consolidated subsidiaries.
The Financial Accounting Standards Board has published an exposure draft of a proposed accounting standard, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, that attempts to resolve long-standing questions about whether transactions should be
accounted for as secured borrowings or as sales.
The following consensuses were reached regarding investments
accounted for under SOP 78-9 (either cost or equity method):
The EITF also reached a consensus that a security received in a restructuring in settlement of a claim for only the past-due interest on a loan should be measured at the security's fair value at the restructuring date and
accounted for in a manner consistent with the entity's policy for recognizing cash received for past-due interest.
112 covers the' benefits that are not
accounted for under Statement no.
The issue is whether these transactions should be
accounted for as borrowings in accordance with paragraphs 21 and 22 of FASB Statement no.
The movement, they contend, will transform how business is conducted and, in turn, how transactions are
accounted for and reported on a global basis.
97 contracts should be
accounted for as a catch-up adjustment.
15, Troubled Debt Re.structurings deal with accounting for foreclosure or repossession of assets in satisfaction of receivables and requires foreclosed assets be
accounted for at their fair value at the time of foreclosure.
Supplies, if material, would be
accounted for under the consumption method.
