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REAC Guidance on Debt Issuance Costs Piublication

Feb 24, 2017 01:52PM MST

I noticed your independent auditor report example did not contain an EOM paragraph addressing the change in accounting principle as a result of adoption of ASU 2015-03. Can you explain why?

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Les Sparks AHACPA Feb 24, 2017

Craig, I the answer is materiality. We did a survey of the submissions we have received for a lot of firms already. Unfortunately, when I had those posted, I should have included an EOM paragraph to include at your discretion. There is no intention to restrict what is possible from in that sample, The purpose of that sample was to show what most are disclosing. If you feel that it should be there, I would absolutely add it.

Les

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