Is there a GAAP in small company standards?
Article Abstract:
Recently small companies have complained that since their financial statements are prepared f or the use of owners, company bankers, and the Inland revenue and are not as complex as the financial statements of large public companies, different reporting standards should be developed to apply to large and small businesses. Supporters of this view believe that the ultimate use of financial statements should determine the requirements and content of financial statements. Extant reporting standards are burdensome to small businesses and do not provide small businesses with a framework that generates useful, reliable information.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
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Statement of Standard Accounting Practice - Exposure Draft 47: Accounting for Goodwill: February 1990
Article Abstract:
The Accounting Standards Committees' February 1990 Exposure Draft (ED) 47: Accounting for Goodwill, is presented. The ED covers the accounting treatment for goodwill, including the nature and meaning of goodwill, the measurement of goodwill, the amortization of purchased goodwill, and time limits on the write-off of goodwill.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1990
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