The Financial Accounting Standards Board is starting 2014 having made two decisions that put it at odds with the goal of convergence with the International Accounting Standards Board. It decided, before the start of the holidays, to abandon a proposed model for classifying complex debt investments and opted instead to keep current guidance that separates the elements in these instruments. In its other decision, on credit impairment, FASB decided to proceed with its own plan for a credit loss model.

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