Accounting Research BULLETINS
Issued by the Committee on Accounting Procedure, American Institute of Accountants, 270 Madison Avenue. New York 16, N. Y.
Copyright 1951 by American Institute of Accountants
Limitation of Scope of Special War Reserves
1. In January, 1942, the committee on accounting procedure issued Accounting Research Bulletin No. 13, Accounting for Special Re-serves Arising Out of the War. In October, 1946, it issued Bulletin No. 26 concerning the accounting for the use of these special war re-serves.
2. The committee is of the opinion that, in the light of subsequent developments of accounting procedures, these bulletins should no longer be relied upon as a basis for the establishment and use of re-serves.
The statement entitled "Limitation of Scope of Special War Reserves" (No. 13-Addendum) was unanimously adopted by the twenty-one members of the committee.
1. Accounting Research Bulletins represent the considered opin-ion of at least two-thirds of the members of the committee on account-ing procedure, reached on a formal vote after examination of the subject matter by the committee and the research department. Except in cases in which formal adoption by the Institute membership has been asked and secured, the authority of the bulletins rests upon the general acceptability of opinions so reached. (See Report of Committee on Accounting Procedure to Council, dated September 18, 1939.)
2. Opinions of the committee are not intended to be retroactive unless they contain a statement of such intention. They should not be
(Precedes page 111)