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What is the purpose of ASU 2016-13? How do the provisions for Available-for-Sale Debt Securities...

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Accounting

  • What is the purpose of ASU 2016-13?
  • How do the provisions for Available-for-Sale Debt Securities differ for current GAAP accounting? Create an example to illustrate accounting for an AFS debt security under current (as noted in ASU) GAAP accounting vs. the revised accounting in ASU 2016-13.
  • How are the provisions for financial assets similar to existing GAAP accounting for certain non-financial assets?

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