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FASB Nixes Equity Method Project

The Financial Accounting Standards Board (“FASB”) has canceled the second phase of its project to improve the equity method of accounting. After reviewing feedback on its proposed Accounting Standards Update, Investments—Equity Method and Joint Ventures (Topic 323): Simplifying the Equity Method of Accounting, the FASB concluded that the project does not have enough support to move forward. As a result, the project has been removed from the Board’s agenda.

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