Proposed technical amendments to recently issued standards
FINANCIAL REPORTING INSIGHTS |
The Financial Accounting Standards Board recently issued two proposed Accounting Standards Updates (ASUs), Technical Corrections and Improvements to Recently Issued Standards: I. Accounting Standards Update No. 2016-10, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities and II. Accounting Standards Update No. 2016-02, Leases (Topic 842).
The proposed ASUs provide narrow-scope amendments that are not expected to have a significant effect on current accounting practice. The proposed ASUs are available for comment until November 13, 2017.