The Financial Accounting Standards Board and the International Accounting Standards Board are taking a step back in their work to converge U.S. and international standards, FASB Chairwoman Leslie Seidman said. The organizations will "re-deliberate" in order to come to an agreement on rules for categories including financial instruments, leasing and revenue recognition. The slowdown will give the groups more time to collect feedback from constituents and ensure that the rules are "ready to be issued and implemented by people widely around the world," Seidman said.

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