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FASB proposes narrow-scope amendments to guidance on credit losses

  • FASB (US Financial Accounting Standards Board) Image

Aug 21, 2018

The FASB has issued a proposed Accounting Standards Update (ASU), “Codification Improvements to Topic 326, Financial Instruments — Credit Losses.”

The proposed amendments would (1) align the implementation date for annual financial statements with the implementation date for interim financial statements and (2) clarify that operating lease receivables are not within the scope of ASC 326-20 and should instead be accounted for under the new leasing standard, ASC 842.

Comments on the proposed ASU are due by September 19, 2018. For more information, see the press release and proposed ASU on the FASB’s Web site.

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