Podcast: Modified receivables

We discuss ASU 2022-02, which eliminates TDR guidance and requires enhanced disclosures for creditors.

John Barbagallo

John Barbagallo

Managing Director, Dept. of Professional Practice, KPMG US

+1 212-954-7258

Lisa Blackburn

Lisa Blackburn

Partner, Dept. of Professional Practice, KPMG US

Jafet Malave

Jafet Malave

Senior Manager, Dept. of Professional Practice, KPMG US

+1 703-286-8000

Podcast overview

KPMG professionals discuss the impacts of ASU 2022-02 and answer questions encountered in practice about the elimination of separate recognition and measurement of TDRs and the required enhanced disclosures for modified receivables.


  • Applies to all creditors with modifications of receivables from borrowers experiencing financial difficulty

Relevant dates

The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This effective date is the same for all entities. Entities that have not previously adopted ASC 326 will adopt the ASU at the same time they adopt ASC 326.

Early adoption is permitted for an entity that has adopted ASC 326. An entity can early adopt the guidance for modified receivables in any interim period, but must apply all of the ASU’s guidance for modified receivables as of the beginning of the fiscal year that includes the interim period.

Podcast contents

  • 0:55 – Overview of ASU 2022-02
  • 3:00 – Key impacts and transition approach
  • 7:15 – Modifications included in the enhanced disclosures requirements
  • 10:50 – Implementation Q&As