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Statements of Position

1977

Service industries -- United States -- Accounting

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Accounting For Service Transactions; Exposure Draft (American Institute Of Certified Public Accountants), 1977, June 30, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee Jan 1977

Accounting For Service Transactions; Exposure Draft (American Institute Of Certified Public Accountants), 1977, June 30, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee

Statements of Position

Because of the wide variety of types of service transactions and the different characteristics of each type, diverse accounting methods have evolved to apply the fundamental principles to service revenues and costs. Furthermore, diverse accounting methods are used by entities engaging in similar transactions. The Division believes that the range of alternative accounting methods should be narrowed.