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2016

IASB announces IFRS 16 release date

Jan 06, 2016

The IASB has announced that it will publish its long-awaited leases standard, IFRS 16, on January 13, 2016, and that it will hold two 45-minute live Web presentations introducing the new standard on the same day.

The pre­sen­ta­tions will provide an overview of the new re­quire­ments and will allow par­tic­i­pants to ask ques­tions. Interested parties must register for the presentations via the following links on the IASB’s Web site:

The FASB is expected to publish its leases standard in the coming weeks. 

FASB issues final standard on classification and measurement of financial instruments

Jan 05, 2016

The FASB has issued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities,” which contains limited amendments to the guidance in U.S. GAAP on the classification and measurement of financial instruments.

The new standard significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments.

For more information, see Deloitte's related Heads Up newsletter and journal entry as well as the ASU, press release, and FASB in Focus newsletter on the FASB's Web site. 

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