Generally, those who comment on the exposure drafts are practicing accountants who are familiar with the practical impact than new standards would have based on their experience in dealing with similar issues at their firms or with their clients. FASB is able to revise the proposed standards based on the information it receives from comment letters before it issues a formal pronouncement to implement the new standards.
Investment dictionary. Academic. 2012.
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exposure draft — ➔ draft1 * * * exposure draft UK US noun [C] (ABBREVIATION ED) ► a document that is not in its final form, but is intended for people to read and discuss so that changes can be made: »Interested parties are encouraged to review the exposure draft … Financial and business terms
exposure draft — A draft accounting standard issued by the Accounting Standards Board. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 … Law dictionary
exposure draft — Generally, a draft issued as a discussion document prior to the release of a final document. Specifically, it refers to a draft issued for discussion by the Accounting Standards Committee before issuing an accounting standard … Accounting dictionary
exposure draft — A draft *accounting standard or *auditing standard that is disseminated for public comment and discussion prior to being finalized and issued … Auditor's dictionary
Financial Reporting Exposure Draft — (FRED) A draft accounting standard issued by the Accounting Standards Board (ASB) which sets out the text of the proposed standard. ASB website … Law dictionary
Financial Reporting Exposure Draft — FRED A document issued by the Accounting Standards Board for discussion and debate prior to the issue of a Financial Reporting Standard … Accounting dictionary
Draft — An unconventional order in writing signed by a person, usually the exporter, and addressed to the importer ordering the importer or the importer s agent to pay, on demand ( sight draft) or at a fixed future date ( time draft), the amount… … Financial and business terms
draft — A written order drawn by one party, called a drawer, that directs a second party (almost always a bank), called a drawee, to pay a sum of money to a third party, called the payee. For example, a check. Drafts are used with letters of credit.… … Financial and business terms
Draft document — Rough draft redirects here. For the novel with that title, see Rough Draft (novel). Drafting is the preliminary stage of a written work in which the author begins to develop a more cohesive product. A draft also describes the product the writer… … Wikipedia
Major League Baseball Draft — The First Year Player Draft, also known as the Rule 4 Draft, is Major League Baseball s primary mechanism for assigning amateur baseball players, from high schools, colleges, and other amateur baseball clubs, to its teams. The draft order is… … Wikipedia