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Professor Baruch Lev discusses the Financial Accounting Standards Board (FASB)'s recent update

CFO magazine
Excerpt from CFO -- "'It’s a response to very detailed questions of companies about the classification of certain cash flows in the cash flow statement. The transactions are very specific and infrequent,' he added. In Lev’s view, FASB’s attempt to improve cash-flow accounting by adding rules rather than creating a system that rests on broad general principles 'increases GAAP complexity.'"

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