Discussion Memorandum

DEFINITION of 'Discussion Memorandum'

Published by the Financial Accounting Standards Board (FASB), a discussion memorandum is a document intended to encourage discussion and debate amongst accounting and financial professionals in regards to a current issue relating to the accounting industry. Items of discussion could include revenue recognition policies, depreciation guidelines or any other topics relating to the accounting industry.

BREAKING DOWN 'Discussion Memorandum'

A discussion memorandum is not necessarily issued for negative reasons and may just be published to discuss positive aspects or changes to accounting principals. Quite often however these documents are published to discuss current issues which accountants and other professionlas feel require updating and may actually lead to an issuance of the Statements of Financial Accounting Standards.

RELATED TERMS
  1. Offering Memorandum

    A legal document stating the objectives, risks and terms of investment ...
  2. Debit Memorandum

    1. A document given to an account holder which states that the ...
  3. Financial Accounting Standards ...

    A seven-member independent board consisting of accounting professionals ...
  4. Statement of Financial Accounting ...

    A formal document issued by the Financial Accounting Standards ...
  5. Accounting Changes And Error Correction

    Requirements for the accounting for and reporting of a change ...
  6. Accounting Interpretation

    A statement clarifying how accounting standards should be applied. ...
Related Articles
  1. Professionals

    Introduction

    Introduction
  2. Professionals

    Financial Reporting Objectives and Enforcement

    CFA Level 1 - Financial Reporting Objectives and Enforcement. Examines the objectives of financial reporting according to SFAC 1. Learn how the SEC adn FASB help enforce the U.S. GAAP.
  3. Professionals

    Introduction

    Introduction
  4. Professionals

    Special Memorandum Account

    Special Memorandum Account
  5. Professionals

    Management Discussion and Analysis & Financial Statement Footnotes

    CFA Level 1 - Management Discussion and Analysis & Financial Statement Footnotes. Explains the Management Discussion and Analysis section that is required to be included with financial statements.
  6. Forex Education

    Accounting Basics: Financial Reporting

    By Bob Schneider Generally Accepted Accounting Principles (GAAP)A key prerequisite for meaningful financial statements is that they be comparable to those for other companies, especially firms ...
  7. Executive Compensation

    Accountant: Job Description & Average Salary

    Discover what the job description of an accountant entails, along with education and training, salary and skills necessary for success.
  8. Professionals

    Financial Accounting

    Financial accounting is the process of gathering, recording, summarizing and reporting financial data relating to a business. The ultimate goal is to accurately report the financial picture and ...
  9. Executive Compensation

    Accounting Research Manager: Career Path & Qualifications

    Discover the basic responsibilities of an accounting research manager, the path this career usually takes and the qualifications needed for this career.
  10. Executive Compensation

    Accounting Research Manager: Career Path & Qualifications

    Discover the basic responsibilities of an accounting research manager, the path this career usually takes and the qualifications needed for this career.
RELATED FAQS
  1. How does the Financial Accounting Standards Board (FASB) establish accounting protocol?

    Find out how the Financial Accounting Standards Board or FASB, identifies possible financial reporting issues and determines ... Read Answer >>
  2. What is the difference between a summary prospectus and an offering memorandum?

    Understand what investments require a summary prospectus or a offering memorandum, and learn the differences between the ... Read Answer >>
  3. What is the difference between a letter of intent and a memorandum of understanding?

    Understand what a letter of intent and a memorandum of understanding are, and learn the primary difference between the two ... Read Answer >>
  4. How does financial accounting help decision making?

    Read a brief overview of some areas where financial accounting helps in decision making for investors, lending institutions ... Read Answer >>
  5. What are the objectives of financial accounting?

    Learn about the principle objectives of financial accounting, including the furnishing of the financial statements for those ... Read Answer >>
  6. How do investors and lenders benefit from financial accounting?

    Read about the benefits of financial accounting, including access to information and transparency between companies and their ... Read Answer >>
Hot Definitions
  1. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  2. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  3. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  4. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  5. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
  6. Call Option

    An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument ...
Trading Center