FASB Votes to Proceed With CECL and Delays Effective Dates by One Year

At a meeting today, the Financial Accounting Standards Board (FASB) voted to proceed with the new current expected credit loss standard and agreed to defer the effective dates for all entities by one year, retaining the ability for entities to early adopt. In addition, the FASB discussed scaling vintage disclosure requirements for certain entities.

This article offers information about the FASB’s decisions.