A lot is happening in the accounting world right now. Just in the past few months, the Financial Accounting Standards Board has issued exposure drafts on revenue, leases, and financial instruments. Public comments on those and other proposals are pouring in, and the debate on those topics is sure to be lively in the next few months. But there have been some other developments in the accounting world that may be even more significant in the long run. In the past few months we have also witnessed:
FASB Chairman Robert Herz's surprising departure;
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