OPINIONS OF THE ACCOUNTING PRINCIPLES BOARD
Amending Paragraph 6 of APB Opinion No. 9, Application to Commercial Banks
1. In December, 1966 this Board issued Opinion No. 9, Reporting the Results of Operations. That Opinion did not apply to financial statements of commercial banks for reasons expressed in the last two sentences of paragraph 6, which stated:
"A committee of the American Institute of Certified Public Accountants is in the process of recommending a format for the income statement of commercial banks. Until such recommendation has been given and until the Board has taken a position thereon, this Opinion is not applicable to commercial banks."
2. The last two sentences of paragraph 6 of APB Opinion No. 9 are deleted and such Opinion as hereby amended is therefore applicable to financial statements issued by commercial banks for fiscal periods beginning after December 31, 1968.
The Opinion entitled "Amending Paragraph 6 of APB Opinion No. 9, Application to Commercial Banks" was adopted unanimously by the eighteen members of the Board.
Issued by the Accounting Principles Board of the American Institute of Certified Public Accountants
COPYRIGHT 1969 BY THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS, INC. 666 FIFTH AVENUE, NEW YORK, NEW YORK 10019