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Fasb Statement 86

FASB STATEMENT 86
FASB Statement 86
Accounting 304

Carla LaMariana
11/28/2007

[Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.]

In 1973 a new organization was founded, this organization was named The Financial Ac-counting Standards Board, or the FASB. The FASB creates and improves the standards of the reporting of financial accounting and to guide and educate the general public. When the FASB issues these standards they are considered to be the latest generally ac-cepted accounting principles, otherwise known as GAAP (2007). In 1985 the FASB is-sued accounting statement number 86. Statement number 86 is entitled, Accounting for the Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed. The effective date for statement number 86 is the fiscal years that begin after December 15,......


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Approximate Word Count: 699
Approximate Pages: 3 (250 words per double-spaced page)

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