Mister

Topics: Balance sheet, International Financial Reporting Standards, Financial statements, Lease / Pages: 5 (1223 words) / Published: Apr 4th, 2013
LAGOS STATE UNIVERSITY
OJO, LAGOS STATE.
(EXTERNAL SYSTEM)
AGEGE CAMPUS

ASSIGNMENT IN PARTIAL FULFILLMENT

OF

THE COURSE TITLED: ___________
COURSE CODE: _________
THE DEPARTMENT OF ACCOUNTING
MANAGEMENT SCIENCE FACULTY

BY

AKINWUNMI MODINAT WUNMI
MATRIC NO.: _________________
APRIL, 2013.

ASSIGNMENT SUBMITTED BY AKIWUNMI MODINAT WUNMI Continuation Sheet 1
STATEMENT OF ACCOUNTING STANDARDS (SAS) Statement Of Financial Accounting Standards are Statements issued by the Financial Accounting Standards Board (FASB). |

Introduction:
I
t is a formal document issued by the Financial Accounting Standards Board (FASB), which details accounting standards and guidance on selected accounting policies set out by the FASB. These statements of financial accounting standards are issued, with the expectation that all reporting companies listed on American stock exchanges will adhere to them. The standards are created to ensure a higher level of corporate transparency.
These are the publications of Nigerian Accounting Standards Board (NASB). The following are available:
SAS 1 - Disclosure of Accounting Policies
SAS 2 - Information to be disclosed in Financial Statements
SAS 3 - Accounting for Property, Plant and Equipment
SAS 4 - Stocks
SAS 5 - Construction Contracts
SAS 6 - Extraordinary items and Prior Year Adjustments.
SAS 7 - Foreign Currency Conversions and Translations
SAS 8 - Accounting for Employees' Retirement Benefits
SAS 9 - Accounting for Depreciation
SAS 10 - Accounting by Banks and Non-Bank Financial Institutions (Part I)
SAS 11 - Leases
SAS 12 - Accounting for Deferred Taxes
SAS 13 - Accounting for Investments
SAS 14 - Accounting in the Petroleum Industry: Upstream Activities
SAS 15 - Accounting by Banks and Non-Bank Financial Institutions (Part II)
SAS 16 - Accounting for Insurance Business
SAS 17 - Accounting in the Petroleum Industry: Downstream Activities
SAS 18 - Statement of Cash Flows

Others are:
ASSIGNMENT SUBMITTED BY AKIWUNMI MODINAT WUNMI

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