match the description to the pronouncements 643633

Aug 30, 2021 | Uncategorized

(Accounting Pronouncements) Standard setting bodies have issued a number of authoritative pronouncements. A list is provided on the left, below, with a description of these pronouncements on the right.

Instructions

Match the description to the pronouncements.

1. _____   Staff Positions

(a) Official   pronouncements of the APB.

2. _____   Interpretations (of the Financial
  Accounting Standards Board)

(b) Sets   forth fundamental objectives and
  concepts that will be used in developing
  future standards.

3. _____   Statement of Financial Accounting Standards

(c)   Primary document of the FASB that
  establishes GAAP.

4. _____   EITF Statements

(d)   Provides additional guidance on
  implementing or applying FASB
  Standards or Interpretations.

5. _____   Opinions

(e)   Provides guidance on how to account
  for new and unusual financial transactions
  that have the potential for creating
  diversity in financial reporting practices.

6. _____   Statement of Financial Accounting Concepts

(f)   Represent extensions or modify cations of existing standards.