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December 1, 2022

we hadn’t thought of that

FASB Still Applying Duct Tape to Repurchase Accounting

Apparently Accounting Standards Update No. 2011-03 didn't quite hold things together as well as people would have hoped: FASB's newest proposal is meant to address more recent concerns that current accounting requirements do not yet appropriately reflect a entity's obligations and risks resulting from repurchase agreements, said FASB Chairman Leslie Seidman in a prepared statement. […]