SEC staff issues interpretive guidance on the FASB Codification

 The release notes that the FASB Codification includes a cross-reference finding tool to assist users in identifying where previous standards are located in the Codification. (Don't suppose they've actually tried to use the "tool"? "Assisting users" might be a bit of an exaggeration as applied to any accounting civilian.) On a longer-term basis, the staff also intends to update specific references to specific standards under U.S. GAAP in the SEC's rules and guidance. In addition, users should be aware that, while the FASB Codification includes references to some SEC rules and staff guidance, the Codification is not the authoritative source for that content.

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