Statement 33: Rating Its Effectiveness

Norton, Curtis
June 1985
FE: The Magazine for Financial Executives;Jun1985, Vol. 1 Issue 6, p37
Trade Publication
The article presents an assessment of Statement 33 issued by the Financial Accounting Standards Board (FASB). FASB 33 was issued when many firms had already been subjected to the requirements of an inflation accounting pronouncement in the form of Accounting Series Release (ASR) 190. The Securities and Exchange Commission's (SEC's) document had been criticized widely as a hasty and inadequate response to the inflation accounting question. The FASB issued Statement 33 to reaffirm its role in the standard-setting process, and also to improve upon the requirements of ASR 190.


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