The Financial Accounting Standards Board is inviting comments on its proposed Disclosure Framework, requesting input on ways to improve the effectiveness of disclosures in notes to financial statements.
FASB has been developing the Disclosure Framework in recent years to try to reduce disclosure overload and make financial statement disclosures more relevant to investors (see FASB Readies Framework for Financial Statement Disclosures and FASB Plans Public Discussions on Disclosure Framework). The board decided Monday to discontinue its loss contingencies disclosure project, in part because of its work on the overarching Disclosure Framework.
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