There are recent developments relating to the implementation of new accounting standards, some with effective dates beginning in 2018, which will impact the accounting for financial instruments.
The FASB and other stakeholders have reached conclusions on several open questions relating to the current expected credit loss model (CECL). These conclusions will allow companies to move forward with more certainty in their implementation efforts.
The SEC recently provided views on the presentation of costs associated with credit card reward programs under the new revenue standard. This will impact the presentation and disclosure of credit card-related revenue and costs when the new revenue recognition standard becomes effective in 2018.
Finally, the FASB recently issued targeted improvements to the accounting for hedging activities and an exposure draft of technical corrections related to the recognition and measurement of financial instruments.
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