FASB issues standard to determine which entities are within the scope of the new PCC Decision-Making Framework

Posted by on 24 December, 2013
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Yesterday, the US Financial Accounting Standards Board (FASB) and the Private Company Council (PCC) issued the “Private Company Decision-Making Framework: A Guide for Evaluating Financial Accounting and Reporting for Private Companies”. The FASB also issued FASB Accounting Standards Update (ASU) No. 2013-12, “Definition of a Public Business Entity: An Addition to the Master Glossary”.

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