Accounting Research Bulletins were pronouncements on accounting practice issued by the Committee on Accounting Procedure between 1939 and 1959; since 1964 they have been recognized as accepted accounting practice unless superseded in part or in whole by an opinion of the APB (Accounting Principles Board) or an FASB (Financial Accounting Standards Board) standard. APB Opinions were issued by the Accounting Principles Board during the years 1959 through 1973 and, unless superseded by FASB Statements, are recognized as accepted practice and constitute the requirements to be followed by all business enterprises. FASB Statements are pronouncements of the Financial Accounting Standards Board and currently represent the accounting profession’s authoritative pronouncements on financial accounting and reporting practices.
Work Step by Step
All of the accounting positions in the bulletins have since been superseded, but some of the text in the bulletins has been integrated into the successor accounting standards, which are part of Generally Accepted Accounting Principles (GAAP).