Open AccessThe Impact Of Statement No. 91 On Financial Reports of Financial Institutions
Author(s) -
Zabihollah Rezaee,
Mohammad S. Bazaz
Publication year - 2011
Publication title -
journal of applied business research
Language(s) - English
Resource type - Journals
eISSN - 2157-8834
pISSN - 0892-7626
DOI - 10.19030/jabr.v6i3.6297
Subject(s) - deferral , business , financial statement , accounting , sample (material) , finance , loan , financial ratio , audit , chemistry , chromatography
SFAS No. 91 restricted the previously acceptable methods of accounting for loan origination fees and costs to the deferral method. The purpose of this paper is to discuss the provisions of SFAS No. 91 and examine its impact on financial reports of affected entities. We analyzed a sample of 90 financial institutions annual reports. Our examination reveals that the majority of studied entities did not experience material impacts in their financial reports as a result of compliance with the provisions of SFAS No. 91.