Unfortunately, few comment letters suggested decision rules that the Board might follow. Many seemed to follow the late Justice Potter Stewart's view of another subject. They couldn't define an answer, but they would know one when they saw it. Respondents' difficulties with the Discussion Memorandum foreshadowed the Board's difficulties in later deliberations. Those difficulties relate to three areas.
Recognition is important .
The Discussion Memorandum separated measurement and recognition, but respondents could not. Sometimes the two issues simply areinseparable. For example, a particular change in an asset or liability is recognized because a measurement provided information. A particular measurement technique is selected because of the event that triggered recognition . Most important, human nature looks ahead to test views against their consequences.