Heads Up: FASB Issues Guidance on the Liquidation Basis of Accounting
Volume 20, Issue 13
This Heads Up discusses FASB Accounting Standards Update No. 2013-07, Liquidation Basis of Accounting. The standard, which provides guidance on when and how to apply the liquidation basis of accounting, is effective for entities that determine that liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein.
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