FASB Proposes Taxonomy Changes Related to Topics 326, 815, and 842
FASB is proposing taxonomy improvements for the proposed Accounting Standards Update on clarifying the interactions among topic 321 on investments in equity securities), topic 323 on investments under equity method and joint ventures), and topic 815 on derivatives and hedging. Also being proposed are the taxonomy improvements for the Accounting Standards Update 2019-07 on codification updates to SEC sections and for the proposed Accounting Standards Update related to effective dates for topic 326 on measurement of credit losses for financial instruments, topic 815 on derivatives and hedging, and topic 842 on accounting for leases. FASB is also proposing taxonomy improvements.
The comment period on the proposed taxonomy improvements to the proposed Accounting Standards Update on investments ends on August 30, 2019. The comment period on the proposed taxonomy improvements related to effective dates for certain financial instruments ends on September 16, 2019. The comment period on the proposed taxonomy improvements related to the Accounting Standards Update on codification updates to SEC sections ends on August 28, 2019. The codification updates were proposed under the Accounting Standards Update No. 2019-07 on Codification Updates to SEC Sections/Amendments to the SEC paragraphs pursuant to SEC final rule Release No. 33-10532 on Disclosure Update and Simplification, Release Numbers 33-10231 and 33-10442 on investment company reporting modernization, and miscellaneous updates.
Related Links
- Notification (PDF)
- Release Notes: Topics 321, 323, and 815 (PDF)
- Release Notes: Effective Dates (PDF)
- Release Notes: SEC Codification Improvements (PDF)
Comment Due Date: August 28, 2019/August 30, 2019/September 16, 2019
Keywords: Americas, US, Banking, Accounting, Securities, Taxonomy, Derivatives and Hedging, Financial Instruments, Accounting Standards Update, CECL, Leases, Hedging, IFRS 9, IFRS 16, Reporting, SEC, FASB
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