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February 4, 2020 Article 18 minute read
Download our fourth quarter update for an overview of important activities for private companies.
Business people meeting.

This update provides a summary of some of the more important fourth quarter 2019 accounting and financial reporting activities for private companies. The content is not meant to be all-inclusive.

Topics include:

  • Accounting guidance issued in fourth quarter 2019
    • Simplifying accounting for income taxes
    • Codification improvements to financial instruments – credit losses
    • Deferral of effective dates
    • Codification improvements – share-based consideration payable to a customer
  • New revenue recognition rules – effective calendar year 2019
  • New lease standard – effective calendar year 2021
  • Measurement of credit losses on financial instruments
  • Accounting for digital assets, including cryptocurrencies
  • Standards effective calendar year 2019
  • Accounting guidance eligible for early adoption in calendar year 2019
  • Standards issued in 2019
  • Standards issued in prior years effective 2019 or after

Archived accounting updates for private companies: