(Answered) Write a discussion of the recent fasb update regarding the

Accounting

Write a discussion of the recent FASB update regarding the presentation of Extraordinary Items (Income Statement-Extraordinary Gain and Unusual Items-subtopic 225-20).

Explain YOUR OPINION of the change considering both the potential advantages and disadvantages of such a standard.

In addition, discuss the overall theme of transparency in financial reporting. Does the recent FASB update affect transparency for users (in your opinion)?

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