FASB, PCC finalize decision-making framework for private-company standards

07/16/2013 | Accounting Today

The Financial Accounting Standards Board and the Private Company Council have agreed on a final version of the Private Company Decision-Making Framework. The framework is meant to help the FASB and the PCC identify ways to simplify private companies' financial statements. They have begun to issue proposals for the accounting of intangible assets acquired in a business combination, goodwill and certain types of interest-rate swaps under generally accepted accounting principles.

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