FASB Proposes Taxonomy Changes Related to Topics 944 and 815
FASB proposed taxonomy improvements for the proposed Accounting Standards Update related to effective date for topic 944 on accounting for long-duration contracts. Also being proposed are the taxonomy improvements for the proposed Accounting Standards Update on accounting for convertible instruments and contacts in an entity's own equity related to subtopics 470-20 on debt with conversion and other options and 815-40 on derivatives and hedging. The comment period on the proposed taxonomy improvements related to topic 944 ends on September 20, 2019 while the comment period on the taxonomy improvements related to subtopics 470-20 and 815-40 ends on October 14, 2019.
- Notification (PDF)
- Release Notes for Topic 944 (PDF)
- Release Notes for Subtopics 470-20 and 815-40 (PDF)
Comment Due Date: September 20, 2019 (topic 944)/October 14, 2019 (subtopics 470-20 and 815-40)
Keywords: Americas, US, Banking, Insurance, Securities, Accounting, Derivatives and Hedging, Taxonomy, Reporting, Topic 815, Topic 944, Insurance Contracts, FASB
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
Advises U.S. and Canadian financial institutions on risk and finance integration, CCAR/DFAST stress testing, IFRS9 and CECL credit loss reserving, and credit risk practices.
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