B.3 Effective Dates and Transition
The amendments would be effective for PBEs for fiscal years
beginning after December 15, 2024 (2025 for calendar-year-end PBEs), and interim
periods for fiscal years beginning after December 15, 2025. The effective date for
entities other than PBEs would be one year later. Early adoption would be
permitted.
B.3.1 Effective Dates
The ASU’s amendments are effective for PBEs for fiscal years beginning after
December 15, 2024 (2025 for calendar-year-end PBEs). Entities other than PBEs
have an additional year to adopt the guidance. Early adoption is permitted.
B.3.2 Transition
Entities may apply the amendments prospectively or may elect retrospective
application.