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Comment on financial instruments accounting

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Grant Thornton submitted a letter to the FASB commenting on its proposed Accounting Standards Update, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (Debt—Debt with Conversion and other Options (Subtopic 470-20) and Derivatives Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40)). The firm supports the FASB’s objective of addressing accounting for financial instruments with characteristics of both liabilities and equity, acknowledging the complexity of the guidance. Grant Thornton provided answers to questions to respondents offered by the FASB regarding its proposed ASU.

Read our comment letter