The FASB has issued ASU 2018-19 related to credit losses. The amendment addresses the effective date for nonpublic business entities and whether operating lease receivables are in scope.
Mandatory effective dates and early adoption provisions:
Effective date: |
Public business entities that are SEC filers |
Public business entities that are not SEC filers |
All other entities |
Annual periods – Fiscal years beginning after |
December 15, 2019 |
December 15, 2020 |
December 15, 2021 |
Interim periods – In fiscal years beginning after |
December 15, 2019 |
December 15, 2020 |
December 15, 2021 |
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