|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the BP 6-K filed Nov 17, 2005. Nonmonetary asset exchanges: In December 2004, the FASB issued Statement of Financial Accounting Standards No. 153 ‘Exchanges of Nonmonetary Assets an amendment of APB Opinion No. 29’ (SFAS 153). SFAS 153 eliminates the Accounting Principles Board Opinion No. 29 exception for nonmonetary exchanges of similar productive assets and replaces it with an exception for exchanges of nonmonetary assets that do not have commercial substance. SFAS 153 is effective for nonmonetary asset exchanges occurring in accounting periods beginning after June 15, 2005. The Group adopted SFAS 153 with effect from January 1, 2005. The adoption of SFAS 153 did not have a significant effect on the Group’s profit, as adjusted to accord with US GAAP, or BP shareholders' equity, as adjusted to accord with US GAAP.
This excerpt taken from the BP 6-K filed Sep 7, 2005. Nonmonetary asset exchanges: In December 2004, the FASB issued Statement of Financial
Accounting Standards No. 153 ‘Exchanges of Nonmonetary Assets an amendment
of APB Opinion No. 29’ (SFAS 153). SFAS 153 eliminates the Accounting
Principles Board Opinion No. 29 exception for nonmonetary exchanges of
similar productive assets and replaces it with an exception for exchanges of
nonmonetary assets that do not have commercial substance. SFAS 153 is effective
for nonmonetary asset exchanges occurring in accounting periods beginning after
June 15, 2005. The Group adopted SFAS 153 with effect from January 1, 2005.
The adoption of SFAS 153 did not have a significant effect on the Group’s
profit, as adjusted to accord with US GAAP, or BP shareholders’ equity, as
adjusted to accord with US GAAP.
This excerpt taken from the BP 6-K filed Sep 7, 2005. Nonmonetary asset exchanges: In December 2004, the FASB issued
Statement of Financial Accounting Standards No. 153 ‘Exchanges of
Nonmonetary Assets an amendment of APB Opinion No. 29’ (SFAS 153).
SFAS 153 eliminates the Accounting Principles Board Opinion No. 29
exception for nonmonetary exchanges of similar productive assets and replaces
it with an exception for exchanges of nonmonetary assets that do not have
commercial substance. SFAS 153 is effective for nonmonetary asset
exchanges occurring in accounting periods beginning after June 15, 2005.
The Group adopted SFAS 153 with effect from January 1, 2005. The
adoption of SFAS 153 did not have a significant effect on the Group’s profit,
as adjusted to accord with US GAAP, or BP shareholders’ equity, as
adjusted to accord with US GAAP.
This excerpt taken from the BP 6-K filed Apr 13, 2005. Nonmonetary asset exchanges: In December 2004, the FASB issued Statement of Financial Accounting Standards No. 153 ‘Exchanges of Nonmonetary Assets an amendment of APB Opinion No. 29’ (SFAS 153). SFAS 153 eliminates the Accounting Principles Board Opinion No. 29 exception for nonmonetary exchanges of similar productive assets and replaces it with an exception for exchanges of nonmonetary assets that do not have commercial substance. SFAS 153 is effective for nonmonetary asset exchanges occurring in accounting periods beginning after June 15, 2005.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for BP: |
| |||||||
