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FASB Closes In On Defining Liability; Ratifies EITF Consensuses

At its June 25, 2008 board meeting, the Financial Accounting Standards Board (FASB) tentatively agreed on a proposed definition of a liability for its conceptual framework project. Additionally, the board ratified recent Emerging Issues Task Force (EITF) consensuses. Further details are below. ... more » (FEI members only)

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