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FASB staff proposes taxonomy implementation guide on credit losses and taxonomy improvements related to its proposal on classification of debt in a classified balance sheet

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Oct 12, 2018

The FASB staff has issued a proposed financial reporting taxonomy implementation guide, “Financing Receivable and Current Expected Credit Loss Disclosures,” and proposed taxonomy improvements related to the proposed Accounting Standards Update (ASU), “Simplifying the Classification of Debt in a Classified Balance Sheet (Current Versus Noncurrent).”

The pro­posed credit loss im­ple­men­ta­tion guide pro­vides “examples to help users of the Taxonomy understand how the modeling for disclosures related to financing receivables and credit losses is structured within the Taxonomy.”

Com­ments on the pro­posed im­ple­men­ta­tion guide are due by November 5, 2018. Com­ments on the pro­posed tax­on­omy im­prove­ments related to the pro­posed ASU are due by November 12, 2018.

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