FASB Improves Guidance on Financial Instruments
March 9, 2020
The FASB has issued Accounting Standards Update No. 2020-03, Codification
Improvements to Financial Instruments, which makes narrow-scope amendments
related to the following topics:
- Fair value option disclosures.
- Applicability of the portfolio exception in ASC 820 to nonfinancial items.
- Disclosures for depository and lending institutions.
- Cross-reference to guidance in ASC 470-50 on line-of-credit or revolving-debt arrangements.
- Cross-reference to net asset value practical expedient in ASC 820-10.
- Interaction between ASC 842 and ASC 326.
- Interaction between ASC 326 and ASC 860-20.
For more information, see the press release on the FASB’s Web site.