Unit 3 Discussion 1

  • Go to the SEC website and:
      1. Access Press Releases. Select and summarize a recent press release.
      2. The SEC does not always agree with, and other times adds clarity to, the FASB’s standards. Go to the Staff Accounting Bulletins. In those bulletins, how does the SEC clarify the definition of “other than temporary” decline in value as used in SFAS No. 115? Is this clarification helpful? Why, or why not? Does this add clarity to the definition proposed by the FASB? Note: Staff Accounting Bulletins can be found under Regulation, and then Staff Interpretations.

    US Securities and Exchange Commission: Retrieved from http://www.sec.gov/

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