Recent developments in financial instruments

In depth , PwC US Oct 30, 2017

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Highlights from the 2017 AICPA banking conference and other recent developments in the accounting for financial instruments.


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.

To have a deeper discussion, please contact:

Chip Currie

Partner, National Professional Services Group, PwC US


Christopher Rickli

Partner, National Professional Service Group, PwC US


Catherine Espino

Senior Manager, National Professional Services Group, PwC US


Contact us

David Schmid
IFRS & US Standard Setting Leader, National Professional Services Group, PwC US

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