Accounting Research Bulletin refers to a publication issued by the Accounting Principles Board (APB) in the United States from 1939 to 1959. It provided guidance and interpretations on various accounting issues and aimed to establish consistent accounting practices and principles. The Accounting Research Bulletin served as a precursor to the Financial Accounting Standards Board (FASB) and played a significant role in shaping accounting standards and practices in the country.
Accounting Research Bulletin (ARB) was a series of pronouncements issued by the Committee on Accounting Procedure (CAP) from 1939 to 1959. The purpose of ARB was to provide guidance and establish standards for accounting practices in the United States. It covered various topics such as revenue recognition, inventory valuation, and financial statement presentation.
ARB was not legally binding, but it had a significant influence on accounting practices and was widely followed by companies and auditors. It provided a framework for consistent and reliable financial reporting, which was crucial for investors, creditors, and other stakeholders.
In 1959, the CAP was replaced by the Accounting Principles Board (APB), which continued the work of issuing accounting standards. The APB eventually gave way to the Financial Accounting Standards Board (FASB) in 1973, which is the current standard-setting body for accounting principles in the United States.
Although ARB is no longer in effect, its pronouncements and principles laid the foundation for modern accounting standards. Many of its concepts and guidelines are still relevant and incorporated into the current accounting framework.
Q: What is Accounting Research Bulletin (ARB)?
A: Accounting Research Bulletin (ARB) is a publication issued by the Accounting Principles Board (APB) from 1953 to 1973. It provided guidance and interpretations on various accounting topics.
Q: Who issued the Accounting Research Bulletin?
A: The Accounting Research Bulletin was issued by the Accounting Principles Board (APB), which was a predecessor to the Financial Accounting Standards Board (FASB).
Q: What was the purpose of the Accounting Research Bulletin?
A: The purpose of the Accounting Research Bulletin was to provide guidance and interpretations on accounting principles and practices to help ensure consistency and comparability in financial reporting.
Q: Is the Accounting Research Bulletin still in effect?
A: No, the Accounting Research Bulletin is no longer in effect. It was superseded by the Financial Accounting Standards Board (FASB) Statements of Financial Accounting Standards (SFAS) in 1973.
Q: Are the interpretations provided in the Accounting Research Bulletin still relevant?
A: While the Accounting Research Bulletin is no longer in effect, some of its interpretations may still be relevant in certain situations. However, it is important to consult the current accounting standards issued by the FASB for the most up-to-date guidance.
Q: Where can I find the Accounting Research Bulletin?
A: The Accounting Research Bulletin is no longer actively maintained or updated. However, historical copies of the publication can be found in libraries or online databases that specialize in accounting literature.
Q: Can I rely solely on the Accounting Research Bulletin for accounting guidance?
A: No, it is not recommended to rely solely on the Accounting Research Bulletin for accounting guidance. It is important to consult the current accounting standards issued by the FASB, such as the Accounting Standards Codification (ASC), for the most authoritative and up-to-date guidance.
Q: Are there any other sources of accounting guidance besides the Accounting Research Bulletin?
A: Yes, besides the Accounting Research Bulletin, there are several other sources of accounting guidance, including the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC), International Financial Reporting Standards (IFRS), and industry-specific guidance issued by regulatory bodies or professional organisations.
Q: Can I still reference the Accounting Research Bulletin in my research or financial reporting?
A: While the Accounting Research Bulletin is no longer in effect, it can still be referenced in historical research or to understand the evolution of accounting principles. However, it is important to ensure that any accounting guidance
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This glossary post was last updated: 29th March 2024.
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