The FASB has issued a proposed Accounting Standards Update (ASU),
The proposed ASU would (1) remove references to various FASB
Concepts Statements, (2) situate all disclosure guidance in the appropriate
disclosure section of the Codification, and (3) make other improvements and
technical corrections to the Codification.
Comments on the proposed ASU are due by December 26, 2019. For more
information, see the proposed ASU on the FASB’s Web site.