FASB officially delays 4 major standards
FASB recently issued two new Accounting Standards Updates (ASU) that delay many of the effective dates for new standards on leases, hedging, current expected credit losses (CECL), and long-duration insurance contracts.
The updates came a month after FASB voted unanimously to delay certain effective dates for leases, hedging, and CECL and to align the effective dates for long-duration insurance contracts with the new CECL standards. read more – Journal of Accountancy
FASB addresses share-based payments to customers
FASB recently issued new guidance that is designed to simplify and increase the comparability of accounting for share-based payments made to customers. read more – Journal of Accountancy
FASB proposes clarifying hedge accounting standard
Certain sections of FASB’s new hedge accounting standard would be clarified under a proposal the board recently issued. read more – Journal of Accountancy
FASB approves guidance to assist in reference rate transition
The transition from interbank-offered rates to new reference rates may get easier for companies as a result of temporary, optional accounting guidance recently approved by FASB. read more – Journal of Accountancy
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