‘Narrow’ improvements to financial instruments guidance, including CECL, issued by FASB

“Narrow-scope” improvements to various aspects of financial instruments guidance, including the current expected credit losses (CECL) standard issued in 2016, are outlined in an accounting standards update issued Monday.

The Financial Accounting Standards Board (FASB) said the update clarifies that all nonpublic companies and organizations are required to provide certain fair value option disclosures.

In releasing the update, FASB said it was issuing it separately from other of its codification improvements to “increase stakeholder awareness of the changes and to expedite the improvement process.” The accounting group said the update addresses areas brought to its attention by stakeholders and represents “our ongoing commitment to support a successful transition to our standards.”

FASB Issues Narrow-Scope Improvements to Financial Instruments Guidance

Be the first to comment

Leave a Reply

Your email address will not be published.