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FASB rescinds statements. (FASB News).

FASB has issued an exposure draft that rescinds FASB Statement No. 4, Reporting Gains and Losses from Extinguishment of Debt, as well as an amendment of that statement, FASB Statement No. 64, Extinguishments of Debt Made to Satisfy Sinking-Fund Requirements. This proposed statement also would rescind FASB Statement No. 44, Accounting for Intangible Assets of Motor Carriers, and amend other existing authoritative pronouncements to make various technical corrections.

Download the exposure draft from the FASB Web site at http://accounting.rutgers.edu/raw/fasb/news/Index.html.
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Title Annotation:Financial Accounting Standards Board
Publication:California CPA
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 1, 2002
Words:87
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