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FASB fixes financial instruments, proposes fix to cloud costs

Tammy Whitehouse | March 2, 2018

The Financial Accounting Standards Board has finalized some technical corrections to its standard on financial statements and proposed new guidance on accounting for certain cloud computing costs.

FASB issued final new guidance to address six specific issues that required “correction or improvement” to the original financial instruments standard, according to Accounting Standards Update No. 2018-03, which is now codified under Topic 825 of the Accounting Standards Update. The guidance addresses equity securities that have no readily determinable fair value,...

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