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Select a section below and enter your search term, or to search all click ASU 2019-10 Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)
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Amendments to Subtopic 842-10
Publication date: 15 Nov 2019
us FASB ASU 2019-10
5. Amend paragraphs 842-10-65-1 and 842-10-65-4 and their related headings and amend pending content transition date for all paragraphs that link to paragraphs 842-10-65-1 and 842-10-65-4 as follows:
Leases—Overall
Transition and Open Effective Date Information
> Transition Related to Accounting Standards Updates No. 2016-02 , Leases (Topic 842) , No. 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842 , No. 2018-10, Codification Improvements to Topic 842 , Leases, No. 2018-11, Leases (Topic 842): Targeted Improvements , No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors ,
and
No. 2019-01, Leases (Topic 842): Codification Improvements, and No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates842-10-65-1 The following represents the transition and effective date information related to Accounting Standards Updates No. 2016-02, Leases (Topic 842), No. 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842, No. 2018-10, Codification Improvements to Topic 842, Leases, No. 2018-11, Leases (Topic 842): Targeted Improvements, No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors,
and
No. 2019-01, Leases (Topic 842): Codification Improvements , and No. 2019-10, Financial Instruments— Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates : [Note: See paragraph 842-10-S65-1 for an SEC Staff Announcement on transition related to Update 2016-02.]- A public business entity, a not-for-profit entity that has issued or is a conduit bond obligor for securities that are traded, listed, or quoted on an exchange or an over-the-counter market, and an employee benefit plan that files or furnishes financial statements with or to the U.S. Securities and Exchange Commission shall apply the pending content that links to this paragraph for financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Earlier application is permitted.
- All other entities shall apply the pending content that links to this paragraph for financial statements issued for fiscal years beginning after December 15, 2020 2019, and interim periods within fiscal years beginning after December 15, 20212020. Earlier application is permitted. [The remainder of this paragraph is not shown here because it is unchanged.]
Pending Content:
Transition Date: (P) December 16, 2018; (N) December 16, 2020
2019
│Transition Guidance: 842-10-65-1 Note: These transition date changes will be made in a Maintenance Update.
> Transition Related to Accounting Standards
Update
Updates No. 2019- 01, Leases (Topic 842): Codification Improvements , and No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates 842-10-65-4 The following represents the transition and effective date information related to Accounting Standards
Update
Updates No. 2019-01, Leases (Topic 842): Codification Improvements , and No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates: - All entities within the scope of paragraph 842-10-65-1(a) shall apply the pending content that links to this paragraph for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. All other entities shall apply the pending content that links to this paragraph for financial statements issued for fiscal years beginning after December 15, 2020 2019, and interim periods within fiscal years beginning after December 15, 20212020. Early application is permitted.
- An entity shall apply the pending content that links to this paragraph as of the date that it first applied the pending content that links to paragraph 842-10-65-1 and shall apply the same transition method elected for the pending content that links to paragraph 842-10-65-1 in accordance with paragraph 842-10-65-1(c).
Pending Content:
Transition Date: (P) December 16, 2019; (N) December 16, 2020
2019
│Transition Guidance: 842-10-65-4Note: These transition date changes will be made in a Maintenance Update.
Copyright #year# by Financial Accounting Foundation, Norwalk, Connecticut.
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