The Financial Accounting Standards Board has issued an eagerly anticipated exposure draft of a proposed accounting standards update for financial instruments, a major sticking point in FASB's efforts to converge U.S. GAAP with International Financial Reporting Standards.rnAmong other changes, the proposed update would incorporate both amortized cost and fair value information about financial instruments held for collection or payment of cash flows, and remove the "probable" threshold for recognizing credit losses.
展开▼
