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At its June 27, 2007 board meeting, in moving toward issuing its Preliminary Views (PV) document in its Liabilities/Equity project, the FASB board members voted that perpetual preferred stock should be classified as a liability, not equity. FASB staff said they still hope to issue the Liability/Equity PV doc by Sept 30. FASB also redeliberated certain matters on its Conceptual Framework project.... more » (FEI members only)
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