FASB Revises SEC Guidance Within Codification
The FASB has issued ASU 2018-04, Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273. The purpose of the ASU is to align SEC guidance in the codification with the revised provisions for the accounting for other-than-temporary impairment set forth in ASU 2016-01 – Recognition and Measurement of Financial Assets and Financial Liabilities.