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On the Horizon -- FASB clarifies the definition of a ‘business’

Contents
Current reporting issue
     Determining whether a PBE’s equity method investee qualifies as a PBE
FASB clarifies the definition of a ‘business’
AICPA

     Audit and accounting guides updated
     FinREC releases additional revenue recognition implementation working drafts
PCAOB updates website to reflect reorganization of auditing standards
GASB issues invitation to comment on financial reporting model
Comment letter issued