Use FASB-ASU No. 2016-01 to address the following questions. What is the percentage of ASU 2016-01 dissenters to the total number of FASB members? What does this percentage imply to you about the quality of this ASU? Discuss the reasons why Messrs. Linsmeier and Siegel dissented. Be sure to discuss why the ASU 2016-01 fails to meet the three objectives of the financial instrument project.

Use FASB-ASU No. 2016-01 to address the following questions. What is the percentage of ASU 2016-01 dissenters to the total number of FASB members? What does this percentage imply to you about the quality of this ASU? Discuss the reasons why Messrs. Linsmeier and Siegel dissented. Be sure to discuss why the ASU 2016-01 fails to meet the three objectives of the financial instrument project.

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.13: Aa Capital Partners, Inc.

Problem 1Q

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