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U.S. comment letter on clarifying the definition of a business

Published on: Jan 25, 2016

Deloitte & Touche LLP comments on the FASB's proposed ASU Clarifying the Definition of a Business, which was issued in November 2015.

An excerpt from the comment letter is shown below:

While we believe that the proposed ASU would significantly improve the current guidance, appropriately resulting in the identification of more transactions as asset acquisitions rather than as business combinations, we think that it may be helpful to clarify the definition and related interpretive guidance to avoid diversity in practice.

Full text of the comment letter is available below.

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