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FASB proposes little fixes to big rules on financial instruments, leases

Tammy Whitehouse | October 3, 2017

The Financial Accounting Standards Board is proposing some new clarifications to its previously issued standards on the recognition and measurement of financial instruments and on leases.

FASB issued the financial instruments standard in January 2016 to take effect in 2018. The new standard to bring virtually all leased assets and their related liabilities onto corporate balance sheets takes effect in 2019.

The board routinely makes technical corrections to all accounting standards, but normally batches them into a catch-all update to address minor fixes across GAAP. Given...

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