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What is accounting according to AICPA in 1953?
Accounting is the art of recording, classifying and summarising in a significant manner and in there of many transaction and events which are part at least of financial character and interpreting the results there of.
What generally accepted accounting principles are designated under Category B in the GAAP?
Category B consists of (1) FASB Technical Bulletins and, if cleared by the FASB, (2) AICPA Statements of Position and (3) AICPA Industry Audit and Accounting Guides.
How long has the American Institute of Certified Public Accountants been issuing accounting certificates?
The AICPA has provided this service since 1917.
Different definitions of accounting by different authors?
Accounting is defined by the American Institute of Certified Public Accountants (AICPA) as "the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof."
What does the American Institute of Certified Public Accountants do to encourage young people to enter the profession of accounting?
Through connection to the collegiate academic community, cooperative curriculum development, and the distribution of promotional materials, the AICPA aids in encouraging qualified accounting students to sit for the Uniform CPA Examination.
What is the function of the Accounting Standards Executive Committee?
The AICPA's Accounting Standards Executive Committee (AcSEC), which works closely with the FASB and its staff, is the senior technical committee of the AICPA authorized to set accounting standards and to speak for the AICPA
What is accounting according to AICPA in 1953?
Accounting is the art of recording, classifying and summarising in a significant manner and in there of many transaction and events which are part at least of financial character and interpreting the results there of.
What generally accepted accounting principles are designated under Category B in the GAAP?
Category B consists of (1) FASB Technical Bulletins and, if cleared by the FASB, (2) AICPA Statements of Position and (3) AICPA Industry Audit and Accounting Guides.
What two accounting organizations merged in 1937 to become AICPA at a later time?
The rivalry continued until 1937, when the ASCPA merged with the AIA. In 1957, the AIA became the American Institute of Certified Public Accountants (AICPA).
What generally accepted accounting principles are designated under Category A in the GAAP hierarchy?
Category A consists of the following officially established accounting principles: (1) FASB Statements of Financial Accounting Standards, (2) FASB Interpretations, (3) APB Opinions, and (4) AICPA Accounting Research Bulletins.
How long has the American Institute of Certified Public Accountants been issuing accounting certificates?
The AICPA has provided this service since 1917.
What authority does the Financial Accounting Standards Board have over generally accepted accounting principles?
The FASB has the authority to establish GAAPs but has no authority to enforce its standards. The SEC and the AICPA are the organizations that provide the enforcement mechanism.
Definition of accounting according to AAA?
The process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information. It suggests accounting information is economic information.
What is housed in the American Institute of Certified Public Accountants' library?
The AICPA houses the nation's most extensive accounting library and publishes numerous volumes of technical standards and topical publications.
Different definitions of accounting by different authors?
Accounting is defined by the American Institute of Certified Public Accountants (AICPA) as "the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof."
When was the AICPA founded?
The AICPA is a national professional society founded in 1887. The majority of AICPA members (350,000 in 2005) are licensed CPAs, with some limited specialty categories for non-CPAs.
What does the American Institute of Certified Public Accountants do to encourage young people to enter the profession of accounting?
Through connection to the collegiate academic community, cooperative curriculum development, and the distribution of promotional materials, the AICPA aids in encouraging qualified accounting students to sit for the Uniform CPA Examination.
