ASU 2013-07 — Presentation of Financial Statements (Topic 205)

The objective of this Update is to clarify when an entity should apply the liquidation basis of accounting and to provide principles for the measurement of assets and liabilities under the liquidation basis of accounting, as well as any required disclosures.

This Accounting Standards Update is the final version of Proposed Accounting Standards Update 2012-210—Presentation of Financial Statements (Topic 205), which has been deleted.

Issued: April 22, 2013