APB Opinion



An authoritative pronouncement issued by the Accounting Principles Board. The official opinions were given on various accounting issues that required clarification or interpretation. The APB listed 31 separate opinions during its existence.


The Accounting Principles Board was replaced by the Financial Accounting Standards Board (FASB) in 1973. The APB Opinions have likewise been superseded by the Generally Accepted Accounting Principals (GAAP). Therefore, they are now essentially obsolete.

  1. Accountant

    A professional who performs accounting functions such as audits ...
  2. Accounting Method

    The method by which income and expenses are reported for taxation ...
  3. Accounting

    The systematic and comprehensive recording of financial transactions ...
  4. Generally Accepted Accounting Principles ...

    The common set of accounting principles, standards and procedures ...
  5. Accounting Period

    The time span in which certain financial events took place. The ...
  6. Accrual Accounting

    Accrual accounting is an accounting method that measures the ...
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  1. Can working capital be depreciated?

    Working capital as current assets cannot be depreciated the way long-term, fixed assets are. In accounting, depreciation ... Read Full Answer >>
  2. Do working capital funds expire?

    While working capital funds do not expire, the working capital figure does change over time. This is because it is calculated ... Read Full Answer >>
  3. How much working capital does a small business need?

    The amount of working capital a small business needs to run smoothly depends largely on the type of business, its operating ... Read Full Answer >>
  4. What does high working capital say about a company's financial prospects?

    If a company has high working capital, it has more than enough liquid funds to meet its short-term obligations. Working capital, ... Read Full Answer >>
  5. How can working capital affect a company's finances?

    Working capital, or total current assets minus total current liabilities, can affect a company's longer-term investment effectiveness ... Read Full Answer >>
  6. What can working capital be used for?

    Working capital is used to cover all of a company's short-term expenses, including inventory, payments on short-term debt ... Read Full Answer >>

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