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Proposed Concept Statement: Chapter 6: Measurement

Written on Feb 9, 2024

In December, FASB issued a proposed chapter of the Conceptual Framework on measurement. The proposal identifies 2 systems of measurement: entry prices and exit prices. It provides the underlying theory that the board would use when determining which measurement system is appropriate when developing GAAP. Comments are due March 20, 2024.Read the full proposal here

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