consensus

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consensus

(kŏn-sĕn′sĭs) [L. “agreement”]
Agreement, esp. universal agreement.
References in periodicals archive ?
The following consensuses were reached regarding investments accounted for under SOP 78-9 (either cost or equity method):
They should be disclosed only if the, activities of the acquired company that will not be continued are significant to the combined company's revenues or operating results or if the costs recognized under the consensuses as of the consummation date are material to the combined company.
By recognition of the effect in the periods in which they would have been recognized under the seller's application of the consensuses in Issue 89-5 before September 21, 1994.
The EITF reached a consensus that a commitment by an enterprise's management to execute an exit plan that will incur costs with no future economic benefit (exit costs) is an obligating event for those costs meeting the criteria noted in the commitment date and the eligibility consensuses below.
Consensus reached on issue (1) 1/20/94; consensuses reached on issues (2) and (3) 3/24/94
Listed below are the EITF issues for which consensuses have been reached since the January 20, 1994, meeting (see EITF Update, JofA, Jan.94, page 111): Issue no.
The consensuses reached were limited to RRCs that qualify for reinsurance accounting.
The three consensuses reached for this issue address the revenue recognition problems raised by these varied contract terms.
This month's column lists 1991 and 1992 FASB EITF consensuses adopted from July 11, 1991, through May 21, 1992 (see the side bar on page 104).
The E ITF also noted these disclosure requirements apply to options accounted for under the consensuses reached in Issue no.
69, The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Priciples" in the Independent Auditor's Report, all EITF minutes (consensuses and other opinions) were classified as "other literature," the lowest level in the GAAP hierarchy, and compliance with EITF minutes was optional for nonpublic companies.
Since EITF consensuses will have a greater authority than in the existing GAAP hierarchy, nongovernment entities are required to change their current accounting practices to follow the consensuses reached after March 15, 1992.