$1\mathrm{.}3$ Proposed Accounting Standards Updates and Comment Letters

In December $2021,$ the FASB issued a proposed Accounting Standards Update $($i$.$e$.,$ an Exposure Draft$),$ Liabilities $-$ Supplier Finance Programs $($Subtopic $405-50)$ and solicited constituent feedback. Locate this proposed standard.

Required:

Read the summary section of this proposed standard.

a$.$ First, what is a supplier finance program?

b$.$ What change in disclosures does this exposure draft propose?

$2.$ Look for comment letters related to this exposure draft. From fasb.org, navigate to Projects, then Comment Letters. Locate this topic, then click on the link to view comment letters. Next:

a$.$ Locate a comment letter that looks interesting to you. What company or individual wrote the letter, and what is their perspective in writing this letter $($i$.$e$.,$ are they writing from the perspective of a financial statement user, preparer, etc.$)?$

b$.$ What aspects of the proposed standard does the commenter support?

c$.$ What concerns does the commenter raise regarding the proposed standard?

d$.$ How would you expect a company $($preparer$)$ might react to this proposed standard compared to how a banker $($investor$)$ might react? Explain.