Other comprehensive basis of accounting

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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 (United States) 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. [2]

See also

References

  1. "OCBOA Financial Statements". Archived from the original on 2003-10-09.
  2. "OCBOA Financial Statements". Journal of Accountancy. 2003-10-01. Retrieved 2025-01-13.