Posted on Wednesday, June 28, 2023

The Financial Accounting Standards Board (FASB) published a request for comment on proposed GAAP Taxonomy Improvements for the Proposed ASU—Financial Instruments-Credit Losses (Topic 326): Purchased Financial Assets.  The proposed Update would require the application of that single accounting approach to all acquired financial assets (with exceptions) based on seasoning criteria. Comments are due by August 28, 2023.

 

Read the alert:FASB Staff Issues Proposed GAAP Taxonomy Improvements Financial Instruments - Credit Losses (Topic 326) Purchased Financial Assets (June 27 2023)



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