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ASU 2016-01 on classification and measurement of financial instruments

When Dec 15, 2017
from to
Timezone UTC - 5
Where Effective date
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The FASB has issued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities,” on January 5, 2016.

The new standard is effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods therein. For all other entities, including not-for-profit entities and employee benefit plans within the scope of ASC 960 through ASC 965 on plan accounting, the new standard is effective for fiscal years beginning after December 15, 2018, and interim reporting periods within fiscal years beginning after December 15, 2019. Upon adoption, entities will be required to make a cumulative-effect adjustment to the statement of financial position as of the beginning of the first reporting period in which the guidance is effective. The guidance on equity securities without readily determinable fair value will be applied prospectively to all equity investments that exist as of the date of adoption of the standard.

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