FASB Response to COVID-19


The FASB shares global concerns about the stakeholder impact of the coronavirus (COVID-19) pandemic in the United States and abroad.  The FASB is monitoring and responding to the situation and is committed to supporting and assisting our stakeholders during this difficult time.

We encourage stakeholders to view and connect with us through the following resources.
 

Stakeholder Resources

FASB Issues Proposal to Delay Long-Duration Insurance Standard and Ease Early Adoption Provisions (July 9, 2020)

Topics Covered: Long Duration Insurance
 

FASB Issues Taxonomy Staff Q&A Document on How to Apply the Taxonomy to COVID-19 Pandemic and Relief Disclosures

Topics Covered: Taxonomy

FASB Offers Limited Effective Date Delays on Revenue Recognition and Leases Standards (June 3, 2020)

Topics Covered: Revenue Recognition and Leases

FASB meeting on COVID-19 pandemic response (May 21, 2020):

Topics Covered: Revenue Recognition, Leases, Paycheck Protection Program Loans, Disclosure of Government Assistance, Post-Implementation Review Process

FASB Issues Staff Q&A Document on Hedge Accounting during COVID-19 Pandemic (April 28, 2020):

Topics Covered: Cash Flow Hedge Accounting

April 17, 2020 Private Company Council Meeting (April 22, 2020)

Topics Covered: PCC: Leases, Revenue Recognition, Fair Value Measurement, Interest Income Recognition, Small Business Administration Loans

FASB Seeks Public Comment on Proposal to Offer Limited Effective Date Delays on Time-Sensitive Standards (April 21, 2020):

Topics Covered: Revenue Recognition and Leases

 

 

FASB Issues Staff Q&A Document on Accounting for Leases during COVID-19 Pandemic (April 10, 2020): Topics Covered: Leases
 

 

FASB meeting on COVID-19 pandemic response (April 8, 2020): Topics Covered: Revenue Recognition, Leases, Derivatives and Hedging, Interest Income and Fair Value Measurement

Media Advisory: Statement of FASB Chairman Russell G. Golden on FASB Meeting on Accounting Relief during COVID-19 Pandemic (April 8, 2020)

Media Advisory: FASB Plan to Address Standard-Setting Issues During the Coronavirus (COVID-19) Pandemic (April 1, 2020)
 
Technical inquiry service: submit questions directly to FASB staff about standard implementation or other issues.

Implementation web portal: a “one-stop shop” of educational resources on major standards, including leases, credit losses, insurance, and reference rate reform.

Find out where to submit other comments/questions/inquiries through the www.fasb.org/contact.

 

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