The Financial Accounting Standards Board (FASB) has issued a communication around the new or finalized effective dates for most recent standards. Changes allow more time to implement and adopt credit losses, leases, long-duration insurance contracts standards.
The new dates specific to selected new standards are documented and formalized in the published ASU No. 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) and in the ASU No. 2019-09, Financial Services—Insurance (Topic 944).
The summary table below shows all effective date changes.
CECL, Leases, Hedging, and Long-Duration Insurance: How Effective Dates Will Change (Chart assumes calendar-year-end reporting).