FASB recently proposed some changes to address minor problems with its Accounting Standards Codification. The changes are part of an annual project to clarify the codification or correct unintended use of FASB guidance.
Proposed changes include amendments that would remove references to various concept statements. More than two dozen proposed changes are mostly intended to clarify, conform or simplify existing guidance.
Comments about the codification improvements will be accepted until Thursday, Dec. 26.