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Deloitte comments on FASB's proposed ASU on convertible instruments and contracts in an entity's own equity

Published on: Oct 02, 2019

Deloitte & Touche LLP comments on the FASB's proposed ASU, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.

An excerpt from the comment letter is shown below:

Though we strongly support the Board’s efforts to reduce unnecessary complexity in the application of generally accepted accounting principles (GAAP), we have reservations about the proposed accounting approaches that are being contemplated for convertible instruments and contracts in an entity’s own equity. Accordingly, we do not support the finalization of the proposal in its current form.

For more information, see the full text of the comment letter which is available below.

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