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Current Expected Credit Losses — Postadoption Complexities (October 28, 2020)

Accounting Spotlight
October 28, 2020
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Current Expected Credit Losses — Postadoption Complexities

Footnotes

1
FASB Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments.
2
To amend and clarify the guidance in ASU 2016-13, including the effective date and transition provisions, the FASB subsequently issued the following ASUs:
  • ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments — Credit Losses.
  • ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments.
  • ASU 2019-05, Financial Instruments — Credit Losses (Topic 326): Targeted Transition Relief.
  • ASU 2019-10, Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates.
  • ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments — Credit Losses.
  • ASU 2020-02, Financial Instruments — Credit Losses (Topic 326) and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842).
  • ASU 2020-03, Codification Improvements to Financial Instruments.
3
For titles of FASB Accounting Standards Codification (ASC) references, see Deloitte’s “Titles of Topics and Subtopics in the FASB Accounting Standards Codification.”
4
See the disclosure requirements in ASC 326-20-50-10 and 50-11.