SEC Issues SABs on Restructuring and Impairment Charges, Revenue Recognition
Late last year, the SEC staff issued two staff accounting bulletins (SABs), one dealing with aspects of restructuring and impairment charges, the other with revenue recognition.
SABs are not rules or interpretations of the SEC. Rather, they are interpretations and practices followed by staff of the Office of the Chief Accountant and the Division of Corporate Finance in administering the disclosure requirements of Federal securities laws.
These two SABs, Nos. 100 and 101, as well as SAB No. 99, also issued last year, complete the work of the SEC staff in response to SEC Chair Arthur Levitt's concerns about earnings management.
In November 1999, the SEC released …
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Publication information: Article title: SEC Issues SABs on Restructuring and Impairment Charges, Revenue Recognition. Contributors: Not available. Magazine title: The CPA Journal. Volume: 70. Issue: 2 Publication date: February 2000. Page number: 10. © New York State Society of Certified Public Accountants Feb 2009. Provided by ProQuest LLC. All Rights Reserved.