1 In cases where you specified in advance and in writing requirements for the consumer to follow. when making payments and then accept a payment that does not conform to your requirements, you may wait up to 5 days after receipt to credit the payment. Any requirements you set must be. reasonable.
The APA was founded in July 1892 at Clark University by a small group of around 30 men; by 1916 there were over 300 members. The first president was G. Stanley Hall. During World War II, the APA merged with other psychological organizations, resulting in a new divisional structure.
In 1959, the Accounting Principles Board (APB) was formed to meet the demand for more structured accounting standards. The APB issued pronouncements on accounting principles until 1973, when it was replaced by the Financial Accounting Standards Board (FASB).