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FASB Issues Narrow-Scope Improvements to Credit Losses Standard

August 29, 2018

The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would amend the transition requirements and scope of the credit losses standard issued in 2016. Stakeholders are encouraged to review and provide comment on the proposal by Sept. 19, 2018. First, the proposed ASU would mitigate transition complexity by requiring entities other than public business entities to implement it for fiscal years beginning after December 15, 2021. Click here (PDF) for more information.