There are two types of body waves: P-waves and S waves. 1  P - waves - are Primary waves. They travel with a velocity that depends on the elastic properties of the rock through which they travel. 2  S-Waves - Secondary waves, also called shear waves.
GAAP requires the following four financial statements: 1  Balance Sheet - statement of financial position at a given point in time. 2  Income Statement - revenues minus expenses for a given time period ending at a specified date. 3  Statement of Owner's Equity - also known as Statement of Retained Earnings or Equity Statement.
The Financial Accounting Standards Board has issued a proposed statement, Accounting for Certain Liabilities Related to Closure or Removal of Long-Lived Assets, that would require certain obligations to be recognized on the balance sheet as liabilities and measured at the present value of the estimated future cash outflows needed to satisfy them.