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By The Aicpa Audit, Accounting Guide, Dealers In Securities, Hedging Activities and Risk Management Activities

Abstract

1. The broker-dealer Guide (the Guide) provides specialized guidance to assist brokers and dealers in securities in preparing financial statements in conformity with generally accepted accounting principles. In practice, diversity exists regarding the interpretation of the type of entity that can apply the Guide. Some believe that the Guide is only applicable to entities that are regulated as broker-dealers under the Securities Exchange Act of 1934 or comparable foreign regulation, while others believe that the Guide is also applicable to entities that perform activities similar to those of a regulated broker-dealer. Still others believe that the Guide should be applicable to all entities within a consolidated group (except those entities covered by other specialized industry guidance, for example, banking and insurance), if the predominant activities of the consolidated entity are those of a broker-dealer. Copyright © 2007, Financial Accounting Standards Board Not for redistribution Page 12. In addition to the interpretation of the type of entity that can apply the Guide, diversity exists on whether entities that are within the scope of the Guide should b

Year: 2006
OAI identifier: oai:CiteSeerX.psu:10.1.1.353.4252
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