exposure draft?

what are they?

When the FASB wants to issue a new accounting pronouncement, they send it out in (exposure) draft form first and solicit comments.

thanks… so do exposure drafts once accepted become the new accounting rules?

Generally, as accepted or modified an exposure draft becomes a FASB pronouncement, or accounting rule. Some proposals get pulled in the exposure draft phase, and some rare things can skip the exposure draft step, like a FASB pronouncement delaying the implementation date of a previously released rule.

nikko0355 Wrote: ------------------------------------------------------- > thanks… > so do exposure drafts once accepted become the new > accounting rules? Only if Super I approves them