APB opinions definition
/What are APB Opinions?
APB opinions are the 31 authoritative issuances of the Accounting Principles Board (APB). Each of these opinions dealt with a different accounting issue. The intent of each opinion was to clarify an accounting topic that was experiencing differing amounts of interpretation from the issuers of financial statements.
The APB issued opinions from 1962 to 1973. Some elements of the opinions have been incorporated into the successor entity to the APB, which is the Financial Accounting Standards Board (FASB). The most recent updates to accounting standards can be found in the FASB codification, which includes all current GAAP standards.
Examples of APB Opinions
Examples of the topics covered by APB opinions were the accounting for depreciation, leases, pensions, income taxes, earnings per share, business combinations, intangible assets, investments, and interim reporting.