On July 31, 2019, the FASB issued a proposed ASU1 that would simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The proposed ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. Comments on the proposed ASU are due by October 14, 2019.
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