Access the FASB website (www fasb org E). Hover your mouse to the Standards tab, and on the dropdown menu, click on Accounting Standards Updates. Thoroughly read the last two standard updates Describe each standard update and what it added to the existing authoritative accounting literature. Please write one page (12-point font, double-spaced) on each standard update Submit your assignment \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Accounting Standards Updates } \\ \hline \begin{tabular}{l} Accounting Standards Update \\ 202306-Disclosure \\ Improvements: Codification \\ Amendments in Response to the \\ SEC's Disclosure Update and \\ Simplification Initiative \\ [Download] \end{tabular} & \begin{tabular}{l} October \\ 2023 \end{tabular} & \begin{tabular}{l} For entities subject to the SEC's existing \\ disclosure requirements and for entities required \\ to file or furnish financial statements with or to \\ the SEC in preparation for the sale of or for \\ purposes of issuing securities that are not \\ subject to contractual restrictions on transfer, the \\ effective date for each amendment will be the \\ date on which the SEC's removal of that related \\ disclosure from Regulation S.X or Regulation S.K \\ becomes effective, with early adoption prohibited. \\ For all other entities, the amendments will be \\ effective two years later. \end{tabular} \\ \hline \begin{tabular}{l} Accounting Standards Update \\ 202305 Business \\ Combinations-Joint Venture \\ Formations (Subtopic 80560 ): \\ Recognition and Initial \\ Measurement \\ [Download. \end{tabular} & August 2023 & \begin{tabular}{l} The amendments in this Update are effective \\ prospectively for all joint venture formations with \\ a formation date on or atter January 1,2025 . \\ Early adoption is permitted in any interim or \\ annual period in which financial statements have \\ not yet been issued (or made available for \\ issuance), either prospectively or retrospectively. \end{tabular} \\ \hline \end{tabular}