Prior to 2009, the FASB Issued Several Types of Pronouncements

question 40

Essay

Prior to 2009, the FASB issued several types of pronouncements which had differing levels of authority. Explain the differing types of pronouncements, provide a brief explanation as to what changed after 2009 and why is it still important today?

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Definitions:

Heterosexual Masculinity

Social norms and cultural expectations associated with being a heterosexual male, often emphasizing traditional roles and behaviors.

Intersectional Approach

An analytical framework which posits that various social identities (such as race, gender, sexuality, and class) interact on multiple levels, contributing to systemic injustice and social inequality.

Single Mother-led Families

Households headed by a female parent who is not married or partnered, raising her children alone.

Poverty

A condition where individuals or communities lack the financial resources and essentials for a minimum standard of living.