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Financial Accounting Standard Board Memo To Stakeholders

799 Words4 Pages

This article come from the Financial Accounting Standard Board and talks about the interest that FASB must hear all about the financial report that comes from public and nonpublic stakeholders. The reason FASB wants to know about the financial statements of each entity is to better the financial reporting for all profit companies and non-for-profit organization. In this article states that stakeholders input is important in the decision making for a business. In this memo from the Financial Accounting Standard Board reflects the last supplement No. 4 that was completed by Emerging Issue Task Force (EITF) on June 10, 2016. The memo explains the number of stakeholders by categories and how each category stated their concern on each of the eight issues that the EITF proposed to the stakeholders. …show more content…

This page represents each stakeholders comment letter that participated in the EITF-15F. All the stakeholders had different approach on how to fix or minimize the diversity in the subject on hand about the statement of cash flows (cash receipt and payments). The stakeholders that answer the questions were very detailed how each issues should be addressed in the cash flow statement. This page shows the final amendment of the FASB Accounting Standards Codification on the Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments, a consensus of FASB EITF board. In this report shows the final decision that the EITF board decided on and how its read in the FASB accounting standard codification for all entity to understand. It reflects all the changes as what was removed and added to the statement of cash flow (cash receipts and

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