(Accounting Pronouncements) Anumber of authoritative pronouncements have been issued by standards-setting bodies in the last 50 years. A list is provided on the left, below, with a description of these pronouncements on the right.

Instructions Match the description to the pronouncements

Transcribed Image Text:

1. 12 2. 3. 4. 456 5. 6. Technical Bulletin Interpretations (of the Financial Account- ing Standards Board) Statement of Financial Accounting Standards EITF Statements Opinions Statement of Financial Accounting Concepts (b) (a) Official pronouncements of the APB. Sets forth fundamental objectives and concepts that will be used in develop- ing future standards. (c) Primary document of the FASB that es- tablishes GAAP. (d) Provides additional guidance on im- plementing or applying FASB Stan- dards or Interpretations. (e) Provides guidance on how to account for new and unusual financial transac- tions that have the potential for creat- ing diversity in financial reporting practices. (f) Represent extensions or modifications of existing standards.