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SEC updates Financial Reporting Manual

  • SEC (US Securities and Exchange Commission) Image

Oct 21, 2014

The SEC's Division of Corporation Finance published an update to its Financial Reporting Manual (FRM).

Revised sections contain the designation "Last updated: 10/20/2014."  Changes include:

  • The deletion of interpretive guidance on development-stage entities (for consistency with U.S. GAAP).
  • Clarifications to the definition in Regulation S-X, Rule 3-05, of “individually insignificant acquisitions.”
  • Modifications to certain guidance on applying Regulation S-X, Rule 3-14, for real estate acquisitions.

For more information, including a complete list and a brief description of the recent changes, see the FRM on the SEC's Web site.

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