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Discuss the advantages and disadvantages of the FASB

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Reference no: EM132472118

Scenario: One of your friends remarks, "You understand that before voting on an Update to Accounting Standards, the FASB allows written comments and oral presentations in which interested parties can lobby for a particular ruling.

Question 1: The response needs to discuss the advantages and disadvantages of the FASB's allowing interested parties to provide input to its deliberative process.

Reference no: EM132472118

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