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Highlights of the FASB’s October 16 meeting

  • FASB meeting Image

Oct 18, 2019

At its October 16, 2019, meeting, the FASB discussed (1) the effective dates of its standards on credit losses, hedging, leases, and insurance for private companies, not-for-profit organizations, and small public companies and (2) multiple-layer hedging.

Effective-date considerations

The Board af­firmed its decision to stagger effective dates for major standards and to amend the effective dates of its standards on credit losses, hedging, leases, and insurance to give implementation relief to certain types of entities. The Board di­rected its staff to draft a final Accounting Standards Update (ASU) for a vote by written ballot.

For more in­for­ma­tion, see Deloitte's related journal entry as well as the tentative Board decisions on the FASB’s Web site.

Hedging — last-of-layer method

The Board discussed multiple-layer and fair value hedge basis adjustment issues and directed its staff to draft a proposed ASU for external review.

For more in­for­ma­tion, see Deloitte's related journal entry as well as the tentative Board decisions on the FASB’s Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.