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FAF issues post-implementation review report on Statement 123(R)

  • FAF (US Financial Accounting Foundation)  Image

Aug 20, 2014

The Financial Accounting Foundation (FAF) has issued its post-implementation review (PIR) report on FASB Statement No. 123(R), “Share-Based Payment” (codified in ASC 718).

On the basis of feedback from “investors and other financial statement users,” the PIR team concluded that although Statement 123(R) has essentially proved useful for public companies, certain private companies have found the standard’s provisions costly and difficult to implement. The FASB staff will continue to request shareholder feedback on potential improvements including “identifying potential cost-effective solutions for areas that could be considered in potential narrow-scope projects” and plans to discuss the results of its outreach with the Board and the Private Company Council later this year.

For more information, see the press release and PIR report on the FAF’s Web site. The FASB’s response letter is available on its Web site.

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