KPMG reports on ASU 2016-01, which changes accounting under ASC 825. The FASB’s ASU significantly impacts the recognition of equity investment measurement changes and changes in the fair value of financial liabilities under the fair value option.
Applicability
Relevant dates
Mandatory effective dates and early adoption provisions:
Effective date: |
Public business entities |
All other entities |
Annual periods – Fiscal years beginning after |
Dec. 15, 2017 |
Dec. 15, 2018 |
Interim periods – In fiscal years beginning after |
Dec. 15, 2017 |
Dec. 15, 2019 |
Early adoption allowed? |
Immediately, but only for fair value changes in financial liabilities for financial statements not yet been issued |
Dec. 15, 2017 Immediate adoption for elimination of previously required disclosures of fair values in Subtopic 825-10-50 for financial statements not yet issued |
Key impacts
Report contents
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