The Financial Accounting Standards Board (FASB) is a private, non-profit organization standard setting body whose primary purpose is to establish and improve generally accepted accounting principles (GAAP) within the United States in the public's interest.

Prepare a 2-3 page analysis discussing if you think this FASB proposal is a good idea now that you have seen the impact on the financial statements or if you think there is a potential for misleading financial statements as a result of this proposal.

	Jan. 28, 2017	Jan. 30, 2016
Liabilities and Stockholders Equity
Current Liabilities:
Short-term debt	309	642
Merchandise accounts payable	1,423	1,526
Accounts payable and accrued liabilities	3,563	3,333
Income taxes	352	227
Total Current Liabilities	5,647	5,728
Long-Term Debt	6,562	6,995
Deferred Income Taxes	1,443	1,477
Other Liabilities	1,877	2,123
Shareholders' Equity:
Common stock (304.1 and 310.3 shares outstanding)	3	3
Additional paid-in capital	617	621
Accumulated equity	6,088	6,334
Treasury stock	-1,489	-1,665
Accumulated other comprehensive loss	-896	-1,043
Total Macy's, Inc. Shareholders' Equity	4,323	4,250
Noncontrolling interest	-1	3
Total Shareholders' Equity	4,322	4,253
Total Liabilities and Shareholders' Equity	$19,851	$20,576