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2016

March 22, 2016 — SEC Staff Updates Financial Reporting Manual

SEC Staff Updates Financial Reporting Manual

Accounting Journal Entry
March 22, 2016 — On March 17, 2016, the SEC’s Division of Corporation Finance (the “Division”) revised certain sections of its Financial Reporting Manual.1 The changes (1) update the guidance on testing the significance of equity method investments, (2) incorporate certain requirements under the FAST Act,2 and (3) add guidance on the implementation of the FASB’s new revenue standard (ASU 2014-093) as amended by ASU 2015-14.4 The revisions are discussed below in more detail.

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