Statements of Position definition
/What are Statements of Position?
Statements of position are recommendations regarding accounting issues that are occasionally produced by the American Institute of Certified Public Accountants ( AICPA ). Statements of position are intended to revise or improve upon the guidance included in previously-issued audit guides and accounting guides, as well as to provide guidance on specific audit topics. Once a statement of position is issued, the Financial Accounting Standards Board ( FASB ) may incorporate some elements of it in the FASB's formulation of new accounting standards . The last statement of position was issued in 2013.
