Financial Reporting Insights
2020 Effective Date Reminder
Our annual Effective Date Reminder lists pronouncements issued as of Nov. 1, 2020, which became effective on or after Jan. 1, 2020.
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Ideas & Insights
Financial Reporting Insights
Proposed ASC 606 practical expedient for private-company franchisors
A recent proposal would simplify how private-company franchisors analyze their performance obligations in accordance with ASC 606.
Financial Reporting Insights
FASB receives feedback about potential simplifications to ASC 842
Constituents recently provided feedback to the FASB regarding issues encountered in the implementation of ASC 842.
Financial Reporting Insights
Presentation and disclosure of contributed nonfinancial assets
The FASB recently issued requirements regarding the presentation and disclosure of contributed nonfinancial assets by nonprofit entities.
Financial Reporting Insights
FASB to provide limited deferrals for ASC 606 and ASC 842
FASB to propose deferring the effective dates of ASC 606 for private franchisors and ASC 842 for certain entities.
Financial Reporting Insights
Second FASB Staff Q&A document: Estimating expected credit losses
The FASB staff recently issued a Q&A document to address more than a dozen frequently asked questions related to ASU 2016-13.
Financial Reporting Insights
Proposed narrow-scope amendments to credit losses standard
The FASB recently issued a proposed ASU to address issues raised by stakeholders during the implementation of ASU 2016-13.