On September 30th, the Financial Accounting Standards Board (FASB) published proposed GAAP Taxonomy Improvements for the proposed Accounting Standards Update (ASU), Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock. The proposed update was released both to provide authoritative guidance on how issuers should initially measure all aspects of the ASU and to allow for public review and comment.
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