EITF reaches tentative consensus on induced conversions of convertible debt

This week the EITF reached a tentative consensus on interpretive guidance to distinguish between induced conversions and extinguishments of certain convertible debt instruments with cash conversion features. Aimed to help reduce diversity in practice, the tentative consensus is subject to ratification by the FASB at a future board meeting. If ratified, the FASB would issue an exposure draft for public comment.

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