Certain Costs and Activities Related to Property, Plant, and Equipment
Last Updated: April 22, 2004
The staff has prepared this summary of Board decisions for information purposes only. Those Board decisions are tentative and do not change current accounting. Official positions of the FASB are determined only after extensive due process and deliberations.
The objective of this project had been to develop an accounting framework for property, plant, and equipment, including guidance for both the capitalization of costs and the unit of accounting. This project would have amended certain APB Opinions and FASB Statements to incorporate changes that would have resulted from the final issuance of the proposed AICPA Statement of Position (SOP), Accounting for Certain Costs and Activities Related to Property, Plant, and Equipment.
On April 14, 2004, the Board objected to final clearance of the proposed AICPA Statement of Position, Accounting for Certain Costs and Activities Related to Property, Plant, and Equipment. The Board asked the AICPA Accounting Standards Executive Committee to discontinue work on the project. The Board removed the project from its agenda and no further Board discussion is planned. The Board asked the FASB staff to consider whether portions of the draft SOP should be issued as a FASB Staff Position(s).
|April 14, 2004||Board Meeting|
|February 26, 2003||Board Meeting|