AICPA Issues Papers new article content ...
List of issues papers The following list of AICPA Issues Papers have been compiled using the holdings of the University of Mississippi Libraries and the 2008 Technical Practice Aids section entitled "Issues papers of the Accounting Standards Division." Issues Papers were originally intended to be an evenhanded discussion of topics that needed to be "addressed or clarified by the Financial Accounting Standards Board."American Institute of Certified Public Accountants. AICPA Technical Practice Aids as of June 1, 2008. (New York: The Institute, 2008). Pp. 28,00-28,004. Issues Papers were the vehicle the AICPA's Accounting Standards Executive Committee (AcSEC) used to present emerging practice problems to the FASB and accounting practitioners. Issues Papers generally followed a standard format: (1) background, (2) analysis of current practice, (3) review of the literature, (4) statement of issues needing resolution, and (5) advisory conclusions.Beresford, Dennis R. "Emerging Problems: How the Profession is Coping." Journal of Accountancy, Vol. 151, Issue 2 (Feb. 1981), pp.57-60.
While Issues Papers were never enforceable standards, they became recognized (prior to the creation of the FASB Codification in 2009) as the fifth or lowest level in the Generally Accepted Accounting Principles (United States) (GAAP) hierarchy of standards Hardin, Stuart. "Significant Changes to the GAAP Hierarchy," Outlook, Vol. 60 Issue 1 (Spring 1992), p. 40. Issues Papers often offered guidance in areas too narrow for FASB's attention or when guidance was required in a more timely fashion than permitted by the formulation and issuance of a FASB statement.Beresford, Dennis R. "Emerging Problems: How the Profession is Coping." Journal of Accountancy, Vol. 151 (Feb. 1981), pp.57-60. Issues Papers then gained a level of authority as practitioners followed their guidance and different agencies accepted their recommendations. The U.S. Securities and Exchange Commission (SEC) declared the 1984 Issues Paper, "Identification and Discussion of Certain financial Accounting and Reporting Issues Concerning LIFO Inventories," as authoritative in 1985."SEC Staff says AICPA Issues Paper on Lifo Inventories Has Authority." Journal of Accountancy, Vol. 159, Issue 5 (May 1985), p.12 The method of handling stock transaction in the 1980 Issues Paper, Accounting in Consolidation for Issuances of a Subsidiary Stock, was also accepted in 1983 by the SEC as acceptable practice.Rue, Joseph C. and Ara Volken. "Accounting for Subsidiary Stock Transactions."National Public Accountant, Vol. 39, Issue 7 (July 1994), pp. 32–34, 46. The 1986 Issues Paper, Accounting for Options, provided the "first definitive professional opinion on how to account for options.Rude, Charles D. "Guidelines on Accounting for Options." Practical Accountant, Vol. 25, Issue 2 (February 1992), pp. 23–27
Issue Date Official title Status1978 December 12Accounting for Termination Indemnities full-textSuperseded by FASB Statement 881978 December 15Accounting for Changes in Estimates full-text1978 December 20Accounting for Involuntary Conversions full-textSuperseded by FASB Interpretation 301978 December 20Uncertainties full-text1978 December 27Reporting finance subsidiaries in consolidated financial statements full-text1979 January 11Accounting for Time Paid but Not Worked full-textSuperseded by FASB Statement 431979 January 15Meaning of "In Substance a Repossession or Foreclosure" and Accounting for Partial Refinancing of Troubled Real Estate Loans Under FASB Statement No. 15 full-textSuperseded by AICPA Practice Bulletin No. 71979 February 26Personal Financial Statements full-textSuperseded by AICPA Personal Financial Statements Guide1979 February 26Project Financing Arrangements full-textSuperseded by FASB Statement No. 471979 April 27Real Estate ADC Costs Superseded by FASB Statement No. 661979 June 21Accounting for Allowances for Losses on Certain Real Estate and Loans and Receivables Collateralized by Real Estate full-text 1979 July 17 Joint Venture Accounting full-text 1979 August 7 Accounting for Repurchase, Reverse Repurchase, Dollar Repurchase, and Dollar Reverse Repurchase Agreements for Savings and Loans full-textincorporated into Audits of Savings Institutions1979 October 8 Accounting by Investors for Distributions Received in Excess of Their Investment in a Joint Venture full-text1979 October 15 Accounting for bulk purchases of mortgages between mortgage bankers full-text1979 October 16 Accounting for Grants Received from Governments full-textsuperseded by IASC International Accounting Standard No. 201979 October 30 "Push Down" Accounting full-text1980 January 8 Mortgage Guaranty Insurance full-textsuperseded by FASB Statement No. 601980 February 5 Accounting for Vested Pension Benefits Existing or Arising when a Plant is Closed or a Business Segment is Discontinued full-textsuperseded by FASB Statement No. 871980 March 20 Transfers of Receivables with Recourse full-textsuperseded by FASB Statement No. 771980 June 20 Accounting by Lease Brokers full-textsuperseded by FASB Technical Bulletin 86-21980 June 30 Accounting in Consolidation for Issuances of a Subsidiary Stock full-text1980 July 15 Accounting for the Inability to Fully Recover the Carrying Amounts of Long Lived Assets full-textsuperseded by FASB Statement No. 1211980 August 13 Intangibles in the Motor Carrier Industry full-textsuperseded by FASB Statement No. 441980 December 10 Related Party Transactions full-text superseded by FASB Statement No. 571980 December 16 Accounting for Forward Placement and Standby Commitments and Interest Rate Futures Contracts full-textsuperseded by FASB Statement No. 801981 March 17 Accounting and reporting by health and welfare benefit plans full-text1981 March 17 Accounting and reporting by defined contribution plans full-text1981 March 17 Certain Issues That Affect Accounting for Minority Interest in Consolidated financial Statements full-text1981 April 10 Sales of Timesharing Interests in Real Estate full-textsuperseded by FASB Statement No. 671981 June 25Accounting for Installment Lending Activities of Finance Companies full-textincorporated in Audits of Finance Companies1981 July 13Accounting by Agricultural Producers and Agricultural Cooperatives full-textsuperseded by SOP 85-31981 July 16Accounting for Joint Costs of Multipurpose Informational Materials and Activities of Nonprofit Organizations full-textsuperseded by SOP 87-21981 August 3Accounting for Bulk Purchases of Mortgages full-textsuperseded by FASB Statement No. 651981 November 16Depreciation of Income Producing Real Estate full-text1982 August 13Accounting for Medical Malpractice Loss Contingencies (Asserted and Unasserted Claims) and Related Issues of Health Care Providers full-textsuperseded by SOP 87-11982 October 14Acceptability of "Simplified LIFO" for Financial Reporting Purposes full-text1982 November 1Financial Reporting by Health Care Entities of the Proceeds of Tax Exempt Bonds and Funds Limited as to Use full-textincorporated in Audits of Providers of Health Care Services1982 November 4Accounting for Employee Capital Accumulation Plans full-text1983 September 20Accounting for Nonrefundable Fees of Originating or Acquiring Loans and Acquisition Costs of Loan and Insurance Activities full-textsuperseded by FASB Statement No. 911984 February 17Accounting for costs of Software for Sale or Lease full-text superseded by FASB Statement No. 861984 March 26Computation of Premium Deficiencies in Insurance Enterprises full-text 1984 July 12Accounting for Income Taxes of Stock Life Insurance Companies full-textsuperseded by FASB Technical Bulletin No. 84-31984 October 15Application of concepts in FASB statement of financial accounting standards no. 71 to emerging issues in the public utility industry full-text 1984 October 31Accounting for Key Person Life Insurance full-text superseded by FASB Technical Bulletin No. 85-41984 November 5Accounting by Stock Life Insurance Companies for Annuities, Universal Life, and related Products and Accounting for Nonguaranteed-Premium Products full-text1984 November 30Identification and Discussion of Certain financial Accounting and Reporting Issues Concerning LIFO Inventories full-text1985 January 16Accounting for Loss Portfolio Transfers-Letter full-text 1985 June 28Accounting by Health and Maintenance Organizations and Associated Entities full-textSuperseded by SOP 89-51985 December 11Accounting for: no load mutual fund distribution fees full-text1986 February 14Accounting for Estimated Credit Losses on Loan Portfolios full-textincorporated in Audits of finance Companies1986 March 6Accounting for Options full-text 1987 April 21Software Revenue Recognition full-textsuperseded by SOP 91-11987 September 9Use of Discounting in Financial Reporting for Monetary Items with Uncertain Terms Other than Those Covered by Existing Authoritative Literature full-text 1988 October 28Quasi Reorganizations full-text
References
External links American Institute of Certified Public Accountants