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Possible FASB convergence project on major maintenance

  • FASB (old) Image

06 Mar 2006

At its meeting on Wednesday, 8 March 2006, the US Financial Accounting Standards Board will discuss whether to add to its agenda a project to address planned major maintenance activities.

Currently, under IAS 16, major inspection or overhaul costs are generally accounted for as part of the cost of an asset, while under US GAAP these costs are generally expensed.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.