FASB's GAAP proposal would affect private companies

07/1/2013 | Journal of Accountancy online

The Financial Accounting Standards Board has proposed alternatives for private companies within generally accepted accounting principles. The proposal originated with the Private Company Council, which was established in 2012 to help with the matter. Changes would involve accounting for intangible assets in a business combination, goodwill and certain types of interest-rate swaps.

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Journal of Accountancy online