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Comment: FASB proposal for credit loss targeted transition relief

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Grant Thornton submitted a letter to the FASB commenting on its proposed Accounting Standards Update, Targeted Transition Relief for Topic 326, Financial Instruments – Credit Losses. The firm supports the proposed update and agrees that the transition relief outlined in the update would allow entities to present financial statements using a single method of measurement for the financial instrument portfolio as on its adoption date and for the portfolio originating or purchased after the adoption date. Grant Thornton also responds to a number of questions from the FASB.

Read our full comment letter