Highlights of the FASB’s October 16 meeting
October 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.