FASB Issues Proposal On Troubled Debt Restructurings; Comment Deadline Dec. 13

Earlier today, the Financial Accounting Standards Board released a proposal: Clarifications to Accounting for Troubled Debt Restructurings by Creditors. The comment deadline on the proposal is Dec. 13, 2010 (note: this blog inadvertently reported Dec. 31 in our original post, this is now corrected). Read FASB's press release; see the Exposure Draft of the proposed new standard (proposed Accounting Standards Update).