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Global Update

Changes to U.S. GAAP for Private Nonpublic Entities Finally Here for VIE’s and Goodwill

Relief is finally here for private non-public entities who prepare GAAP financial statements.  Over the past year the Financial Accounting Standards Board and the Private Company Council have worked together to establish an acceptable and simplified alternative within GAAP for private non-public entities.   These new alternatives are modifications to U.S. GAAP.