A look at its background, provisions, purpose, pros and cons.
Written in 1993; 900 words; 3 sources; $ 31.95
From the Paper:
"This research examines Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards No. 16, Prior Period Adjustments. Of particular interest in this examination are the reasons prompting the development of Statement No. 16, the provisions of Statement No. 16, and the key issues addressed by the FASB in the development of Statement No. 16, including a consideration of arguments pro and con on the issues addressed.
In the mid-1970s, the American Institute of Certified Public Accountants (AICPA) Committee on SEC Regulations requested that the FASB consider the criteria for prior period adjustments, as those criteria were stated in APB Opinion No. 9, Reporting the Results of Operations, and provide further guidelines for the application of such criteria.1 APB Opinion No. 9 stated, among other things, that prior period adjustments were limited to the..."
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