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Simplifying the adoption of PCC alternatives

ASU 2016-03, Intangibles: Effective Date and Transition Guidance – a consensus of the Private Company Council, amends all existing Private Company Council (PCC) alternatives by (1) eliminating their effective dates and (2) indefinitely extending their transition guidance.  In combination, these two changes allow a private company to initially adopt an accounting alternative in the future without first establishing preferability.

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