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Unformatted text preview: (b) Sets forth fundamental objectives and concepts that will be used in developing future standards. (c) Primary document of the FASB that establishes GAAP. (d) Provides additional guidance on implementing or applying FASB Standards or Interpretations. (e) Provides guidance on how to account for new and unusual financial transactions that have the potential for creating diversity in financial reporting practices. (f) Represent extensions or modifications of existing standards....
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This note was uploaded on 09/20/2008 for the course ACC 349 taught by Professor Christie during the Spring '08 term at University of Phoenix.
- Spring '08