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Deloitte comments on FASB's proposed technical correction to Topic 942

Published on: Aug 25, 2017

Deloitte & Touche LLP comments on the FASB's Proposed ASU, Technical Corrections and Improvements to Topic 942, Financial Services — Depository and Lending: Elimination of Certain Guidance for Bad Debt Reserves of Savings and Loans, which was issued in June 2017.

An excerpt from the comment letter is shown below:

We support the Board’s commitment to a standing project focused on technical corrections, clarifications, and minor improvements to the FASB Accounting Standards Codification (the “Codification”). Limiting this project to minor changes that do not significantly affect current practices is the most practical and efficient way to resolve technical issues related to the Codification.

For more information, see the full text of the comment letter which is available below.

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Correction list for hyphenation

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