A flowchart approach to FAS No. 12
Statement of Financial Accounting Standards no. 12, Accounting for Certain Marketable Securities, establishes new and more elaborate rules to handle a change in market value of equity securities. The purpose of this presentation is to offer a flowchart approach as a guide in applying Statement no. 1...
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| Veröffentlicht in: | Journal of accountancy 1978-06, Vol.145 (6), p.50 |
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| container_title | Journal of accountancy |
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| creator | Booker, Jon A Jarnagin, Bill D |
| description | Statement of Financial Accounting Standards no. 12, Accounting for Certain Marketable Securities, establishes new and more elaborate rules to handle a change in market value of equity securities. The purpose of this presentation is to offer a flowchart approach as a guide in applying Statement no. 12. The flowchart outlines the major decisions incorporated in Statement no. 12 along with the necessary accounting implications that follow from each decision. A classified balance sheet is assumed; then the first major decision is the classification of current and non-current security portfolios. The flowchart is further divided into temporary declines, permanent declines, and transfer and sale of securities. The appropriate placement of the unrealized loss account in the equity section is not specified in Statement no. 12. It would seem logical to do it immediately after the retained earnings and prior to treasury stock. Exhibit. Flowchart. |
| format | Magazinearticle |
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The purpose of this presentation is to offer a flowchart approach as a guide in applying Statement no. 12. The flowchart outlines the major decisions incorporated in Statement no. 12 along with the necessary accounting implications that follow from each decision. A classified balance sheet is assumed; then the first major decision is the classification of current and non-current security portfolios. The flowchart is further divided into temporary declines, permanent declines, and transfer and sale of securities. The appropriate placement of the unrealized loss account in the equity section is not specified in Statement no. 12. It would seem logical to do it immediately after the retained earnings and prior to treasury stock. Exhibit. Flowchart.</abstract><cop>New York</cop><pub>American Institute of Certified Public Accountants</pub></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0021-8448 |
| ispartof | Journal of accountancy, 1978-06, Vol.145 (6), p.50 |
| issn | 0021-8448 1945-0729 |
| language | eng |
| recordid | cdi_proquest_reports_206759506 |
| source | EBSCOhost Business Source Complete |
| subjects | Accounting Accounting firms Balance sheets Fair market value Flowcharts Losses Marketable securities Retained earnings Securities Statements Tax basis |
| title | A flowchart approach to FAS No. 12 |
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