Alternatively, taxpayers that are dealers in securities only because of dealings in nonfinancial customer paper and wanting to discontinue use of the mark-to-market method of accounting for
all securities (including nonfinancial customer paper) may do so automatically under the general automatic change procedures of Rev.
The real fight in Gimbel Brothers was over the scope of the taxpayer's method of accounting for
Still, using the partial-effectiveness method would simplify and broaden the current rules by eliminating the often-troublesome continuing high-correlation requirement of SFAS 80 and would permit hedge accounting for
As the ED on accounting for
debt and equity securities points out, market-value accounting actually is less volatile in the period in which the gains and losses are realized than it is to recognize all realized gain or loss in one period.
the leases of these 24 communities as capital leases would result in approximately $1 million of additional property-related expense that is not included in the above summary.
FASB issued the original ED, Accounting for
Certain Liabilities Related to Closure or Removal of Long-Lived Assets, in February 1996.
However, the proposal would virtually eliminate the use of LOCOM (lower of cost or market value) accounting for
marketable securities and would reduce the number and amount of debt securities that financial institutions and other entities can include in their investment category.
In an effort to standardize the accounting for
all derivative instruments, the standard requires recognition on the balance sheet at fair value of previously unrecognized derivative instruments, such as interest rate swaps used to hedge historical-cost-based assets and liabilities accounted for using accrual accounting, a step that many non-CPAs find inconsistent and illogical when compared to current practice.
The agreement gives Ontario's schools access to all current versions and upgrades of Simply Accounting for
the next two years.
The FASAB issued an exposure draft titled Accounting for
Social Insurance in early 1998.
23, 1995--4Home Productions, the new consumer software division of Computer Associates, Monday announced the release of Simply Accounting for
Windows Version 3.
2, which prescribed the method of accounting for
the investment tax credit.
The FASB standardizes accounting for
certain NPO investments.
This month's column summarizes the consensuses reached on accounting for
tax benefits resulting from investments in affordable housing project.
43 allows the company to "accomplish, in its books of account, substantially what might be accomplished in a reorganization by legal proceedings--that is, elimination of a deficit in retained earnings and establishment of a new basis of accounting for
its assets and liabilities.