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United States. Securities and Exchange Commission; Accounting Principles Board (American Institute of Certified Public Accountants); Deferred tax -- United States -- History
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Full-Text Articles in Business
Sec Preempts The Accounting Principles Board In 1965: The Classification Of The Deferred Tax Credit Relating To Installment Sales, Stephen A. Zeff
Sec Preempts The Accounting Principles Board In 1965: The Classification Of The Deferred Tax Credit Relating To Installment Sales, Stephen A. Zeff
Accounting Historians Journal
In 1959, the Accounting Principles Board (APB) replaced the Committee on Accounting Procedure because the latter was unable to deal forthrightly with a series of important issues. But during the APB's first half-dozen years, its record of achievement was no more impressive than its predecessor's. The chairman of the Securities and Exchange Commission (SEC), Manuel F. Cohen, criticized the APB's slow pace and unwillingness to tackle difficult issues. This article discusses the circumstances attending the SEC's issuance of an Accounting Series Release in late 1965 to demonstrate forcefully to the APB that, when it is unable to carry out its …