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

1 Faculty News September 7, 2016 ![CFO Magazine logo](/sites/default/files/styles/246w/public/assets/images/con_036148.gif?itok=JlCudNc0)>

Excerpt from [CFO](http://ww2.cfo.com/cash-flow-accounting-2/2016/09/cash-flow-clash/) -- "'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](http://www.stern.nyu.edu/faculty/bio/baruch-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.'"

[Read more](http://ww2.cfo.com/cash-flow-accounting-2/2016/09/cash-flow-clash/)