ACCOUNTING RESEARCH BULLETINS Definition

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ACCOUNTING RESEARCH BULLETINS (ARBs) were issued years ago to set generally
accepted accounting principles. Some have not been superseded by pronouncements of the Financial Accounting Standards Board. Those old pronouncements still qualify as generally accepted accounting principles.

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CONTRACT COSTING is mainly associated with civil engineering works, although sometimes also with the manufacture of a major engineering structure over a considerable time (for example, a contract to manufacture a turbine generator).

INDIRECT SHAREHOLDING is when one entity directly holds shares of another entity that owns shares of a third but different entity, for example, Shareholder A would have an indirect shareholding of Company C if Shareholder A directly owns shares of Company B while Company B owns shares of Company C.

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