Accounting for changes to debt can be complex. We help simplify with 5 things borrowers need to know. Listen in.
On October 16, the FASB affirmed its decision to defer the effective dates for the credit losses, hedging, leases and insurance contracts standards for certain entities, with early adoption permitted. The FASB also affirmed its new “two bucket” transition philosophy, which is based on the FASB’s definition of “SEC filer” and the SEC’s definition of “smaller reporting company.” An entity’s effective date for a given standard will be determined as of the date that a final ASU is issued and will not be subject to change. In addition, the FASB voted to align the effective dates of its new guidance on goodwill impairment with the amended credit losses effective dates. The FASB staff expects that the final ASUs on effective dates will be issued in mid-November 2019.
PwC has commented on the FASB’s proposal to amend the guidance for distinguishing between liabilities and equity. See what we think.
In our upcoming webcast, panelists examine how to best assess past tax function performance, what steps to take to reframe your strategy for 2020, and what benefits could be gained during this compliance season.
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