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Article: Notes to financial statements, December 31, 2005.(AAAI News)(American Association for Artificial Intelligence)
- Article from:
- AI Magazine
- Article date:
- December 22, 2006
CopyrightCOPYRIGHT 2006 American Association for Artificial Intelligence. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Note 1: Summary of Significant Accounting Policies
A. Method of Accounting: The financial statements are presented on the accrual basis of accounting.
As required by Financial Accounting Standards No. 124 investments are stated at fair market value, and realized and unrealized gains and losses are combined on the statement of activities.
B. Inventory: Magazine, proceedings, conference books and publications in process inventory is valued at the lower of cost or market value as of December 31, 2005.
C. Furniture, Fixtures and Equipment: Furniture, fixtures and equipment are stated at cost, less accumulated depreciation. Depreciation is ...