FASB Proposes Codification Improvements

The FASB has issued a proposed Accounting Standards Update (ASU), Codification Improvements.

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.