FASB Delays Effective Dates for CECL, Leases, and Hedging Standards

Accounting Standards Update No. 2019-10 on Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842).This update finalizes various effective date delays for private companies, not-for-profit organizations, and certain smaller reporting companies applying the credit losses (CECL), leases, and hedging standards. There is no change in effective dates for public business entities for standards on hedging and leases. Also, for the Credit Losses Standard, there is no change in the effective date for public business entities that are SEC filers. The table below details the revised effective dates.

Accounting Standards Update No. 2019-09 on Financial Services—Insurance (Topic 944).This update finalizes the delays in the effective dates for the standard for all insurance companies that issue long-duration contracts, such as life insurance and annuities. The table below details the revised effective dates.

Revised Effective Dates

Related Links

• Press Release
• Update No. 2019-10 (PDF)
• Update No. 2019-09 (PDF)

Keywords: Americas, US, Banking, Accounting, Insurance, Accounting Standards Update, CECL, Derivatives and Hedging, Leases, IFRS 9, IFRS 16, IFRS 17, Reporting, SEC, FASB