Locate the most recently issued Accounting Standards Update (ASU). Starting with the ASUs Summary pages, respond to the following:

a. What was the Boards reason for addressing this issue?

b. What are some of the key changes this standard will make?

c. What Codification topics will this ASU amend?

d. Locate the section of the ASU where it shows changes to the Codification. Does this ASU add to, or replace, existing Codification content? Explain.