No extraordinary treatment for Katrina losses.Lawrence W. Smith, chairman of FASB's Emerging Issues Task Force, said neither the task force nor the board will provide specific accounting guidance for the events related to Hurricane Katrina  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. . He
directed CPAs instead to AICPA AICPASee American Institute of Certified Public Accountants (AICPA). Technical Practice Aid 5400.05, Accounting and Disclosures for Losses from Natural Disasters--Nongovernmental Entities (www.aicpa.org/members/div/acctstd/general/ reeent_tpas.asp; see News Digest Digest: see Corpus Juris Civilis. (1) A compilation of all the traffic on a news group or mailing list. Digests can be daily or weekly. (2) Any compilation or summary. , page 23), which summarizes existing GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). for issues related to natural disasters. |
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