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

Thoughtware Article Published: Nov 18, 2019

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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.

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