FASB Finalizes New Effective Dates for Leases, CECL, Hedging & Insurance

Thoughtware Article Published: Nov 18, 2019

Authors

Related Industries

Financial Services

Topics

Financial Instruments Projects

Hands typing on a keyboard

FASB has issued two accounting standards updates delaying the effective date for several major standards—Leases, CECL, Hedging and Insurance. Acknowledging the magnified challenges and costs for smaller entities when transitioning to a new guidance, FASB has created a two-bucket approach to stagger effective dates to give smaller entities at least two additional years to implement certain accounting updates. Read on for more details.

Article

Dec 01, 2021

Proposal to Remove TDR Accounting & Add CECL Vintage Disclosures

A FASB exposure draft was issued in response to dissatisfaction with TDR designation and disclosures. The draft also addresses vintage…

Article

Nov 23, 2021

New Disclosures Required for Government Assistance

FASB has issued ASU 2021-10 to address a lack of specific guidance on recognizing, measuring, and disclosing government assistance.

Article

Nov 17, 2021

New Lease Discount Rate Relief for NFPs & Private Companies

FASB has issued a new ASU that provides relief for certain entities in determining the discount rate to use under the new lease guidance in…

Article

Nov 10, 2021

New Business Combination Guidance for Contract Assets & Liabilities

A new accounting standards update addresses how to determine whether a contract liability is recognized by the acquirer in a business…

Article

Nov 01, 2021

New Private Company Relief for Share-Based Payments

A new ASU creates a practical expedient for private companies calculating the fair value of the equity shares underlying a share-option…

Article

Oct 21, 2021

New Disclosures on Proxy Voting Proposed

The SEC has proposed amendments to Form N-PX to enhance the information reported about proxy votes.

Kate & Ben — How can we help you? Contact Us!

How can we help you?