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Deloitte comments on FASB's proposal to amendments guidance on financial instruments

Published on: Dec 19, 2018

Deloitte & Touche LLP comments on the FASB's proposed ASU, Codification Improvements — Financial Instruments, which was issued in November 2018.

An excerpt from the comment letter is shown below:

We support the Board’s efforts to clarify certain aspects of ASC 326, ASC 815, and ASC 825-10 to reduce the costs and complexity of implementing the recently issued standards that amended the accounting guidance on financial instruments. . . . However, as noted in Appendixes A and B of this letter, we are concerned that the proposed ASU leaves open certain questions that the Board should address before issuing a final ASU to ensure consistent application in practice.

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

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