FASB votes to propose deferral of long duration standard

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Jul 17, 2019

FASB voted to propose deferral of effective date of targeted improvements to accounting for long-duration contracts standard.

Overview

The FASB has voted to propose a deferral of the effective date of the new targeted improvements to the accounting for long-duration contracts standard. The proposed deferral is expected to result in a one year deferral for larger SEC filers and a two or three year deferral for all other entities. The comment period is expected to be 30 days. 

The views in this In brief are based on our observations from the July 17 meeting and might differ in some respects from the official minutes of the meeting to be published by the FASB at a later date.

To have a deeper discussion, contact:

Donald Doran

Partner, National Professional Services Group, PwC US

Email

Tom Barbieri

Partner, National Professional Services Group, PwC US

Email

Mary Saslow

Managing Director, National Professional Service Group, PwC US

Email

Contact us

Matt Adams

US Insurance Practice Leader, PwC US

Tel: +1 (646) 471 8688

David Schenck

US Insurance Tax Leader , PwC US

Tel: +1 (202) 549 9412

Richard de Haan

Global Actuarial Leader, PwC US

Mary Saslow

Managing Director, National Professional Service Group, PwC US

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