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 Reserves Arising Out of the War. In October, 1946, it issued Bulle-tin No. 26 concerning the accounting for the use of these special war reserves.
2. The committee is of the opinion that, in the light of subse-quent developments of accounting procedures, these bulletins should no longer be relied upon as a basis for the establishment and use of reserves.
The statement entitled "Limitation of Scope of Special War Reserves" (No. 26-Ad-dendum) 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 ac-counting 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 member-ship 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 Septem-ber 18, 1939.)
2. Opinions of the committee are not intended to be retroactive unless they contain a statement of such intention. They should not
215-A (Precedes page 215)