KPMG reports on ASU 2019-04, which includes several amendments to the financial instruments standards. In particular, ASU 2019-04 changes how a company considers recoveries and extension options when estimating expected credit losses.
Mandatory effective dates and early adoption provisions for the amendments to estimating expected credit losses.
Credit losses standard adopted? | ||
Effective date: | Yes | No |
Annual periods and interim periods – Fiscal years beginning after | December 15, 2019 | The effective dates and transition requirements are the same as the credit losses standard |
Early adoption allowed in annual and interim periods beginning after | Yes, in any interim period if the company has adopted the credit losses standard | The effective dates and transition requirements are the same as the credit losses standard |
The following amendments to estimating expected credit losses are likely to have the most significant effect.
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