FASB recently voted to change the effective date on three standards. What are the standards and...
FASB recently voted to change the effective date on three standards. What are the standards and why did FASB make the change?
Homework Answers
The following are the three major standards whose effective date have been changed -
- accounting for leases
- accounting for credit loses
- and accounting for hedging activities
The main reason for the change is that FASB wanted to give more time to prepares with limited resources to learn from large public companies implementation that posses more staffing and resources.
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FASB recently voted to change the effective date on three
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