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2016

October 17, 2016 — FASB Redeliberates Proposed ASU on Derecognition and Partial Sales of Nonfinancial Assets

FASB Redeliberates Proposed ASU on Derecognition and Partial Sales of Nonfinancial Assets

Accounting Journal Entry
October 17, 2016
On June 6, 2016, the FASB issued a proposed ASU1 that would clarify the scope of ASC 610-202 and accounting for partial sales of nonfinancial assets to conform the derecognition guidance of nonfinancial assets with the model for revenue transactions in the new revenue standard (ASC 606). On October 10, 2016, the Board met to discuss the feedback received in response to the questions for respondents included in the proposed ASU.3

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