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FASB discusses conceptual framework elements

  • FASB meeting Image

Oct 12, 2017

At its October 11, 2017, meeting, the FASB discussed its project on the elements of the conceptual framework.

The board indicated tentative leanings and reactions to terms used in the definitions of revenues and expenses as currently defined in FASB Concepts Statement No. 6, Elements of Financial Statements, and how those terms relate to the definitions of gains and losses.

For more information, see the meeting minutes on the FASB’s Web site.

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