FASB Proposes Codification Improvements

The FASB has released a proposed Accounting Standards Update (ASU) that would make technical corrections and other minor improvements to the FASB Accounting Standards Codification. The proposal is part of the Board’s ongoing “project to address suggestions received from stakeholders on the Accounting Standards Codification and to make other incremental improvements to generally accepted accounting principles (GAAP).”

Comments on the proposal are due by April 22, 2025. For more information, see the press release on the FASB’s Web site.