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FASB Proposes Eight New Cash Flow Classification Rules

Tammy Whitehouse | February 3, 2016

Current accounting rules are either unclear or silent on how to classify cash flows in certain instances, so the Financial Accounting Standards Board is proposing an update to the Accounting Standards Codification to fill the gaps.

The Emerging Issues Task Force of the Financial Accounting Standards Board researched reports of diversity in how companies classify cash flows for eight specific types of transactions. The EITF recommended new rules that FASB is now proposing as a formal Accounting Standards Update to revise ASC Topic 230 on the statement of cash flows.

The issues arise with transactions...

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