FASB Approves Proposed Effective Date Delays

Earlier this month the Financial Accounting Standards Board (FASB) approved its August 2019 proposal to delay the effective dates on key standards for private companies, not-for-profits, and certain small public companies. These standards include credit losses (CECL), leases, hedging standards, and long duration contracts (Insurance). The following chart includes the details of how the effective dates will change:

 

If you have any questions about the above standards or how these changes will impact your organization please contact your Larson advisor for details.