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FASB Updates Disclosure Requirements in Conceptual Framework

August 29, 2018

The Financial Accounting Standards Board (FASB) made two changes to its conceptual framework and released a pair of accounting standards updates aimed at making disclosures in notes to financial statements more effective. A new chapter in the conceptual framework on disclosures discusses what information should be included in the notes to financial statements, describing the purpose of the notes, the nature of the appropriate content and general limitations. Click here (PDF) for more information.