KPMG addresses frequently asked questions on ASC 321 and changes to ASC 825. This latest edition includes new and updated interpretations on a variety of topics including ASU 2019-04 and 2020-01.
ASU 2016-01, ASU 2018-03, ASU 2019-04, ASU 2020-01
Effective date | Public entities | All other entities |
---|---|---|
Annual periods – Fiscal years beginning after |
ASU 2016-01: Dec. 15, 2017 ASU 2019-04: Dec. 15, 2019 ASU 2020-01: Dec. 15, 2020 |
ASU 2016-01: Dec. 15, 2018 ASU 2019-04: Dec. 15, 2019 ASU 2020-01: Dec. 15, 2021 |
Interim periods – In fiscal years beginning after |
ASU 2016-01: Dec. 15, 2017 ASU 2019-04: Dec. 15, 2019 ASU 2020-01: Dec. 15, 2020 |
ASU 2016-01: Dec. 15, 2019 ASU 2019-04: Dec. 15, 2019 ASU 2020-01: Dec. 15, 2021 |
All entities |
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2019-04: Yes, if the entity has adopted all of the amendments in ASU 2016-01. |
2020-01: All entities are permitted to early adopt the amendments, including in an interim period for:
|
ASU 2016-01 created ASC 321 and amended ASC 825. Key impacts of ASU 2016-01 included changes to the:
This July 2020 edition of the publication discusses how the amendments in ASU 2019-04 and ASU 2020-01 affect the recognition and measurement of certain financial instruments for all entities.
Key impacts of ASU 2019-04 and ASU 2020-01 are summarized below:
ASU 2019-04
ASU 2020-01
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