General Descriptions of Exposure Documents
Exposure Drafts—An Exposure Draft represents a proposed standard. It is the result of an FASB technical project. The FASB invites individuals and organizations to provide comments expressing agreement or disagreement on any matter(s) in the proposed draft.
Discussion Papers—A Discussion Paper is a discussion document that can be used to solicit input on major issues (or on a subset of issues) addressed in a project. It also can be used to solicit input on a variety of matters, including (a) matters specific to a possible agenda topic and (b) a discussion document, Exposure Draft, or other document issued for public comment by another standard setter. A Discussion Paper that contains the Board’s preliminary views generally is issued in the early stages of the project and focuses on the tentative decisions and any alternative views discussed by the Board in its deliberations of the project.