FASB Proposes Disclosure Updates in Response to SEC Request

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In December 2013, the SEC began a comprehensive review of current disclosures to identify those that were excessive, unduly complex and redundant. The SEC highlighted several disclosures that overlap with generally accepted accounting principles (GAAP) and requested that they be considered for inclusion in FASB’s standard-setting agenda within 18 months. FASB has completed its review and is proposing to incorporate more than half of the SEC recommendations into GAAP. Read on to learn more about the proposed GAAP changes.

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