APB 4: Accounting for the «Investment Credit»

In December 1962 this Board issued Opinion No. 2, «Accounting for the `Investment Credit.'» In this Opinion we said: Some decision as to the nature of the investment credit, i.e., as to the substance of its essential characteristics, if not indispensable, is of great significance in a determination of its accounting treatment. We believe there can be but one useful conclusion as to the nature of the investment credit and that it must be determined by the weight of the pertinent factors. (paragraph 2)