W2 T1

Instructions: Due Tuesday 07/9

At least 3 paragraphs long with 3 peer-reviewed references.

Review the Accountiing Standards document attached  Accounting Standards Update 2021-02.pdf  which is also available at  https://fasb.org/jsp/FASB/Page/SectionPage   

Review the amendments in this Update. What are your views on this FASB amendment and its impact on financial reporting? Be sure to provide specific examples to back up your opinion.