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FASB Announces Top Priorities for 2017

After issuing several key Accounting Standards Updates and announcing new board members last year, the Financial Accounting Standards Board (“FASB”) is preparing for a busy 2017. In a five-minute video, FASB Technical Director Sue Cosper outlines the FASB’s top priorities for this year. The FASB’s top priorities for 2017 include:

  • Finalizing the hedging and long-duration insurance standards;
  • Supporting the implementation of its revenue recognition, leases, and credit losses standards;
  • Potential improvements to nonprofit financial reporting, particularly distinguishing between exchanges and contributions; and
  • Redeliberating feedback on the Invitation to Comment and continuing to focus on its Conceptual Framework.

Click here to watch the video.

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