APB Opinion

AAA

DEFINITION of '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.

INVESTOPEDIA EXPLAINS 'APB Opinion'

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 The APB Opinions have likewise been superseded by the Generally Accepted Accounting Principals (GAAP).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.

RELATED TERMS
  1. Accounting Method

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

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

    An accounting method that measures the performance and position ...
  4. Generally Accepted Accounting Principles ...

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

    A seven-member independent board consisting of accounting professionals ...
  6. Accountant

    A professional person who performs accounting functions such ...
Related Articles
  1. An Introduction To Depreciation
    Active Trading

    An Introduction To Depreciation

  2. Accounting Rules Could Roil The Markets
    Bonds & Fixed Income

    Accounting Rules Could Roil The Markets

  3. A Clear Look At EBITDA
    Markets

    A Clear Look At EBITDA

  4. Depreciation: Straight-Line Vs. Double-Declining ...
    Forex Education

    Depreciation: Straight-Line Vs. Double-Declining ...

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center