Digital Accounting Collections

Committee on Accounting Procedure Publications

Accounting Research Bulletins were documents issued by the Committee on Accounting Procedure between 1938 and 1959 on various accounting problems. They were discontinued with the dissolution of the Committee in 1959 under a recommendation from the Special Committee on Research Program. In all, 51 Bulletins were issued; however, the lack of Binding authority over AIA's membership reduced the influence of, and compliance with the content of the bulletins. The Accounting Research Bulletins have all been superseded by the Accounting Standards Codification (ASC). See discussion of the Committee on Accounting Procedure at SEC Historical Society Web site.
No.Official titleIssued on
1 General Introduction and Rules Formerly Adopted full-text 1939 September
2 Unamortized Discount and Redemption Premium on Bonds Refunded full-text 1939 September
3 Quasi-Reorganization or Corporate Readjustment—Amplification of Institute Rule No. 2 of 1934 full-text 1939 September
4 Foreign Operations and Foreign Exchange full-text 1939 December
5 Depreciation on Appreciation full-text 1940 April
6 Comparative Statements full-text 1940 April
7 Reports of Committee on Terminology full-text 1940 November
8 Combined Statement of Income and Earned Surplus full-text 1941 February
9 Report of Committee on Terminology full-text 1941 May
10 Real and Personal Property Taxes full-text 1941 June
11 Corporate Accounting for Ordinary Stock Dividends full-text 1941 September
11 Revised Accounting for Stock Dividends and Stock Split-ups full-text 1952 November
12 Report of Committee on Terminology full-text 1941 September
13 Accounting for Special Reserves Arising Out of the War full-text 1942 January
13 Addendum Limitation of Scope of Special War Reserves full-text 1951 July
14 Accounting for United States Treasury Tax Notes full-text 1942 January
15 Renegotiation of War Contracts full-text 1942 September
16 Report of Committee on Terminology full-text 1942 October
17 Post-War Refund of Excess-Profits Tax full-text 1942 December
18 Unamortized Discount and Redemption Premium on Bonds Refunded (Supplement) full-text 1942 December
19 Accounting under Cost-Plus-Fixed-Fee Contracts full-text 1942 December
20 Report of Committee on Terminology full-text 1942 November
21 Renegotiation of War Contracts (Supplement) full-text 1943 December
22 Report of Committee on Terminology full-text 1944 May
23 Accounting for Income Taxes full-text 1944 December
24 Accounting for Intangible Assets full-text 1944 December
25 Accounting for Terminated War Contracts full-text 1945 April
26 Accounting for the Use of Special War Reserves full-text 1946 October
26 Addendum Limitation of Scope of Special War Reserves full-text 1951 July
27 Emergency Facilities full-text 1946 November
28 Accounting Treatment of General Purpose Contingency Reserves full-text 1947 July
29 Inventory Pricing full-text 1947 July
30 Current Assets and Current Liabilities; Working Capital full-text 1947 August
31 Inventory Reserves full-text 1947 October
32 Income and Earned Surplus full-text 1947 December
33 Depreciation and High Costs full-text 1947 December
34 Recommendation of Committee on Terminology; Use of Term "Reserve" full-text 1948 October
35 Presentation of Income and Earned Surplus full-text 1948 October
36 Pension Plans; Accounting for Annuity Costs Based on Past Services full-text 1948 November
37 Accounting for Compensation in the Form of Stock Options full-text 1948 November
37 Revised Accounting for Compensation Involved in Stock Option and Stock Purchase Plans full-text 1953 January
38 Disclosure of Long-Term Leases in Financial Statements of Lessees full-text 1949 October
39 Recommendation of Subcommittee on Terminology; Discontinuance of the Use of the Term "Surplus" full-text 1949 October
40 Business Combinations full-text 1950 September
41 Presentation of Income and Earned Surplus (Supplement to Bulletin No. 35) full-text 1951 July
42 Emergency Facilities—Depreciation, Amortization, and Income Taxes full-text 1952 November
43 Restatement and Revision of Accounting Research Bulletins full-text 1953
44 Declining-Balance Depreciation full-text 1954 October
44 Revised Declining-Balance Depreciation (Supersedes Accounting Research Bulletin No. 44 issued in October 1954) full-text 1958 July
45 Long-term Construction-type Contracts full-text 1955 October
46 Discontinuance of Dating Earned Surplus full-text 1956 February
47 Accounting for costs of Pension Plans full-text 1956 September
48 Business Combinations (Supersedes chapter 7(c) of Accounting Research Bulletin No. 43) full-text 1957 January
49 Earnings per Share full-text 1958 April
50 Contingencies full-text 1958 October
51 Consolidated Financial Statements full-text 1959 August

Committee on Auditing Procedure Publications

The history of the Statements on Auditing Procedures began in 1917 when the American Institute of Accountants (the predecessor organization for the AICPA) was asked by the Federal Trade Commission to prepare a "memorandum on balance-sheet audits." The resulting document was published in the April 1917 issue of the Federal Reserve Bulletin and reissued in 1918 as a pamphlet.  In 1929 the pamphlet was again revised.  A third revision was done in 1936.

The Institute determined that, rather than reissuing the 1936 pamphlet, it would, through the Committee on Auditing Procedure, issue Statements on Auditing Procedure that modified and superseded parts of the 1936 pamphlet. The SAPs were "designed to guide the auditor in those areas of specific situations encountered in practice in which he must exercise judgment, situations outside the realm of textbooks, whose function is inherently to describe procedures in general." By 1948, the 1936 pamphlet was considered so out-of-date that it was withdrawn from publication.

In 1951, the first 24 Statements on Auditing Procedure were codified.  The Codification also contains a summary history of the process of standardizing auditing practice up to 1951 (see pp. 5–8).

In 1954, the Committee on Auditing Procedure finished work on the booklet Generally Accepted Auditing Standards: Their Significance and Scope. This publication responded to the Securities and Exchange Commission's recommendation that the auditor's report make a representation as to compliance with generally accepted auditing standards.

Statement on Procedure no. 33 again codified previous Committee on Auditing Procedure publications, including the 1951 Codification, The 1954 Generally Accepted Auditing Standards, and Statements on Auditing Procedure 25-32.

The final publication of the Committee on Auditing procedure, Codification of Auditing Standards and Procedures 1, superseded SAPs 33-54. The Statement is now known as Statement on Auditing Standards, no. 1 and began a series of Statements on Auditing Standards (SASs) that are still being issued by the Auditing Standards Board.  Beginning in 1976, these Standards were codified annually as section AU of the AICPA's Professional Standards.

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No.Official titleIssued on
1 Extensions of auditing procedure full-text 1939 October
2 Auditor's opinion on the basis of a restricted examination full-text 1939 December
3 Inventories and receivables of department stores, instalment houses, chain stores, and other retailers full-text 1940 February
4 Clients' written representations regarding inventories, liabilities, and other matters full-text 1941 March
5 Revised S.E.C. rule on "accountants' certificates" full-text 1941 February
6 Revised S.E.C. rule on "accountants' certificates"(continued) full-text 1941 March
7 Contingency liability under policies with mutual insurance companies full-text 1941 March
8 Interim financial statements and the auditor's report thereon full-text 1941 September
9 Accountants' reports on examinations of securities and similar investments under the Investment Company Act full-text 1941 December
10 Auditing under wartime conditions full-text 1942 June
11 Auditor's opinion on the basis of a restricted examination : (no. 2) full-text 1942 September
12 Amendment to Extensions of auditing procedure full-text 1942 October
13 Auditor's opinion on the basis of a restricted examination, (no. 3); face-amount certificate companies full-text 1942 December
14 Confirmation of public utility accounts receivable full-text 1942 December
15 Disclosure of the effect of wartime uncertainties on financial statements full-text 1942 December
16 Case studies on inventories full-text 1942 December
17 Physical inventories in wartime full-text 1942 December
18 Confirmation of receivables from the government full-text 1943 January
19 Confirmation of receivables : (positive and negative methods) full-text 1943 November
20 Termination of fixed-price supply contracts; Examination of contractors' statements of proposed settlements full-text 1943 December
21 Wartime government regulations full-text 1944 July
22 References to the independent accountant in securities registrations full-text 1945 May
23 Clarification of accountant's report when opinion is omitted full-text 1947 December
23 revised Clarification of accountant's report when opinion is omitted full-text 1949 December
24 Revision in short-form accountant's report or certificate full-text 1948 October
25 Events subsequent to the date of financial statements full-text 1954 October
26 Reporting on use of "other procedures." full-text 1956 April
27 Long-form reports full-text 1957 July
28 Special reports (applicability of reporting standards in special circumstances) full-text 1957 October
29 Scope of the independent auditor's review of internal control full-text 1958 October
30 Responsibilities and functions of the independent auditor in the examination of financial statements full-text 1960 September
31 Consistency full-text 1961 October
32 Qualifications and disclaimers (clarification of reporting standards) full-text 1962 September
33 Auditing standards and procedures full-text 1963
34 Long-term investments full-text 1965 September
35 Letters for underwriters full-text 1965 November
36 Revision of "Extensions of auditing procedure" relating to inventories full-text 1966 August
37 Special report : public warehouses : controls and auditing procedures for goods held full-text 1966 September
38 Unaudited financial statements full-text 1967 September
39 Working papers full-text 1967 September
40 Reports following a pooling of interests (supersedes paragraphs 35 and 36 of chapter 8 of Statements on auditing procedure no. 33) full-text 1968 October
41 Subsequent discovery of facts existing at the date of the auditor's report full-text 1969 October
42 Reporting when a certified public accountant is not independent full-text 1970 January
43 Confirmation of receivables and observation of inventories (supersedes paragraphs 16-20 of chapter 6 and paragraphs 27-29 of chapter 10 of Statement on auditing procedure no. 33, and Statement on auditing procedure no. 36) full-text 1970 September
44 Reports following a pooling of interests (supersedes Statement on auditing procedure no. 40) full-text 1971 April
45 Using the work and reports of other auditors (supersedes paragraphs 32 and 36 of chapter 10 of Statement on auditing procedure no. 33) full-text 1971 July
46 Piecemeal opinions (supersedes paragraphs 22-25 of chapter 10 of Statement on auditing procedure no. 33 and pertinent portions of paragraph 9 of Statement on auditing procedure no. 34) full-text 1971 July
47 Subsequent events (supersedes chapter 11 of Statement on auditing procedure no. 33) full-text 1971 September
48 Letters for underwriters (supersedes Statement on auditing procedure no. 35) full-text 1971 October
49 Reports on internal control full-text 1971 November
50 Reporting on the statement of changes in financial position (supersedes paragraph 6 of chapter 10 of Statement on auditing procedure no. 33) full-text 1971 November
51 Long-term investments full-text 1972 July
52 Reports on internal control based on criteria established by governmental agencies full-text 1972 October
53 Reporting on consistency and accounting changes (supersedes chapter 8 of statement on auditing procedure no. 33) full-text 1972 November
54 Auditor's study and evaluation of internal control (supersedes chapter 5 of statement on auditing procedure no. 33) full-text 1972 November
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Committee on Accounting Terminology

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