Highlights of the June 2020 FASAC Meeting

At its June 23, 2020, meeting, the FASB’s Financial Accounting Standards Advisory Council (FASAC) discussed the FAF/FASB post-implementation review process. In addition, the FASAC addressed the accounting for government assistance, risks and uncertainties, going concern, impairment, current expected credit losses and macroeconomic estimates, and loan and lease modification (including troubled debt restructuring in the current environment).

For more information, see the meeting recap on the FASB’s Web site.