Status of Statement No. 42

Determining Materiality for Capitalization of Interest Cost—an amendment of FASB Statement No. 34


Issued: November 1980

Effective Date:
For fiscal years beginning after December 15, 1979, unless enterprise had already adopted FAS 34; if so, effective for fiscal years beginning after October 15, 1980


Amends FAS 34, paragraphs 8 and 9


Affected by:
No other pronouncements


Abbreviations for Accounting Pronouncements

FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides