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U.S. comment letter on proposed ASU "Technical Corrections and Improvements Related to Glossary Terms"

Published on: Aug 06, 2013

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 keep the FASB Accounting Standards Codification up to date. Limiting the standing 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.

We generally agree with, and support finalizing, the proposed technical corrections to the Codification. Appendix A contains our responses to questions for respondents in the proposed ASU and notes some concerns about the technical corrections as well as suggestions for improving them. Appendix B identifies additional technical corrections that we believe the Board should deliberate and expose for public comment as part of its perpetual technical corrections project.

Full text of the comment letter is available below.


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.