SFAS No. 133 (213 pages), 149 (78 pages), and 155 (27 pages) define standards for derivatives in

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SFAS No. 133 (213 pages), 149 (78 pages), and 155 (27 pages) define standards for derivatives in 318 pages. How would a principles-based approach to setting standards affect their length…or would it have any effect?
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