Other comprehensive basis of accounting (OCBOA) in United States accounting refers to a system of accounting other than GAAP. As explained in the Journal of Accountancy,[1] Under Statement on Auditing Standards (USA) No. 62, Special Reports, an OCBOA is any one of
In situations where GAAP-basis statements aren’t necessary because of loan covenants, regulatory requirements or similar circumstances, an OCBOA may just be the answer.
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