Case Study $1\mathrm{.}4$ Accounting Standards Update No$.2022-03,$ Fair value measurement of equity securities to contractual sales restrictions, was issued in June $2022$

a$.$ Read the summary section of this standard and describe why the standard was issued. What is the issue it is intended to resolve?

b$.$ Look for guidance on when the standard became effective. That is$,$ what is its effective date?

c$.$ Look for the Dissenting Opinion written in the standard. What is these Board members$$ concern about the standard, and what do they describe as their preferred approach?