On March 31, 2004, the IASB unveiled "IFRS 4--Insurance Contracts," which splits the insurance industry's entry into IFRS into two phases and gives insurers several options as to how to account for
91-31 or applies for a change in method in the traditional way, the taxpayer may not account for
deposits consistent with the Supreme Court's decision.
If the amount of the unrealized gain or loss inherent in the partnership's assets is insufficient to credit the option holder's capital account to reflect his or her share of partnership capital, (a) the partnership reallocates capital already reflected in the existing partners' capital accounts to the option holder's capital account (a capital shift); and (b) the partnership agreement provides for corrective allocations of gross income and gain (or gross loss and deduction) in the year in which the option is exercised (and potentially subsequent years) to account for
any capital account reallocations made under these provisions (corrective allocations).
America Online (AOL) and Time Warner will account for
their recently announced merger as a purchase.
The final checkable account for
which fee information is reported is a NOW account for
which the institution charges no fee if a minimum balance is maintained; otherwise, the institution levies one monthly fee with no check charges.
Dividends on unallocated shares are now charged to compensation if you pay them to participants or account for
them as debt reduction or accrued interest, if you use them for debt service (effectively charging compensation expense for all dividends on unallocated shares).
This includes the staffing industry and government/insurance providers, who can use the card account for
structured settlements and disbursements.
Because FASB is proposing a standard that would change how utilities account for
nuclear decommissioning costs, it is imperative that CPAs at utilities with nuclear plants examine the standard's implications for their companies.
Taxpayers that want to change their method of valuing ending inventory to account for
estimated inventory shrinkage may do so under the general automatic accounting procedures of Rev.