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- Title
Variances, Incentives, and SFAS 151.
- Authors
Biggart, Timothy B.; Carnes, Thomas A.
- Abstract
The article discusses the Statement of Financial Accounting Standards (SFAS) 151. This accounting standard went into effect in June 2005 and aims to clarify how corporations account for abnormal amounts of idle facility expense and spoilage. SFAS 151 has the potential, however, to inject production-level concerns into external reporting decisions. The change centers on the term abnormal as it applies to idle-facility expense, freight, handling costs, and wasted material.
- Subjects
ACCOUNTING standards; FREIGHT &; freightage; CORPORATIONS; MATERIALS handling; TRANSPORTATION
- Publication
CPA Journal, 2007, Vol 77, Issue 9, p40
- ISSN
0732-8435
- Publication type
Article