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Favorited Content
ASU No. | Standard name | Effective date | Early adoptable | PwC resources |
---|---|---|---|---|
Reference Rate Reform (Topic 848): Scope
| Upon issuance (January 7, 2021) through December 31, 2024, as amended by ASU 2022-06 | Not applicable
| ||
Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848
| Upon issuance (December 21, 2022) through December 31, 2024
| Not applicable
| ||
Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging —Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity
| Fiscal years beginning after December 15, 2023, and interim periods within those fiscal years
| Yes, but only as of the beginning of a fiscal year beginning after December 15, 2020.
| ||
Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers
| Fiscal years beginning after December 15, 2023, and interim periods within those fiscal years
| Yes
| ||
Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method
| Fiscal years beginning after December 15, 2023, and interim periods within those fiscal years.
| Early adoption is permitted if ASU 2017-12 has already been adopted for the corresponding period.
| ||
Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations
| Amendment on rollforward information is effective for fiscal years beginning after December 15, 2023.
| Yes
| ||
Leases (Topic 842): Common Control Arrangements
| Fiscal years beginning after December 15, 2023, and interim periods within those fiscal years
| Yes
|
ASU No. | Standard name | Effective date | Early adoptable | PwC resources |
---|---|---|---|---|
Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts
| As amended by ASU 2020-11, fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025
| Yes
| ||
Financial Services—Insurance (Topic 944): Effective Date
| As amended by ASU 2020-11, effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025
| Not applicable
| ||
Financial Services—Insurance (Topic 944): Effective Date and Early Application
| Effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025
| Yes - early transition relief available
| ||
Financial Services—Insurance (Topic 944): Transition for Sold Contracts
| Effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025
| Yes - early transition relief available
| ||
Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
| Fiscal years beginning after December 15, 2024, and interim periods within those fiscal years
| Yes
| ||
Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method
| Fiscal years beginning after December 15, 2024, and interim periods within those fiscal years
| Yes
| ||
Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement
| Effective prospectively for all joint venture formations with a formation date on or after January 1, 2025.
| Early adoption is permitted in any interim or annual period in which financial statements have not yet been issued (or made available for issuance), either prospectively or retrospectively.
| ||
Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets
| Fiscal years beginning after December 15, 2024, including interim periods within those fiscal years.
| Yes
| ||
Income Taxes (Topic 740): Improvements to Income Tax Disclosures
| Fiscal years beginning after December 15, 2025.
| Early adoption is permitted in any annual period in which financial statements have not yet been issued (or made available for issuance), either prospectively or retrospectively.
|
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