Mar 10, 2016
From the Financial Reporting Network
During the past year, the FASB devoted a significant amount of effort to its simplification initiative. The Board completed seven projects, made final decisions on two projects, and has three additional projects in the final stages. But questions remain about whether the FASB is doing enough to reduce unnecessary complexity in U.S. GAAP. This publication provides our views about the challenges of the simplification initiative and suggestions for how to improve it.