simplification of gaap

Presentation1

1. 205-915Development Stage Entities205 Presentation of Financial Statements

   ASC 205-915 formerly contained the presentation requirements for development stage entities (inception-to-date cumulative amounts in the income statement, cash flow statement, and equity statement, plus identification of the entity as development stage). Every paragraph in Sections 05, 15, and 45 was superseded by ASU 2014-10, so the subtopic now imposes no requirements. Entities that would once have been development stage entities simply follow the ordinary presentation guidance in ASC 205 and elsewhere in GAAP.