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Exposure Draft (ED)
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A proposed statement of financial accounting standards issued by the Financial Accounting Standards Board (FASB) for public comment. The exposure draft represents FASB's considered judgment on a specific accounting issue. Subject to comments received and possible additional deliberation, an exposure draft may become a Statement of Position (SOP) mandating a Financial Accounting Standard (FAS). See Financial Accounting Standard (FAS), Financial Accounting Standards Board (FASB), Statement of Position (SOP).
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