The amendments in Accounting Standards Update (ASU) 2016-01, Financial Instruments ─ Recognition and Measurement of Financial Assets and Financial Liabilities, became effective for private companies, not-for-profit entities (NFPs), and employee benefit plans in calendar year 2019. In this report, we cover two major provisions of ASU 2016-01 that are broadly applicable for private companies and NFPs:
Presentation Change for Financial Assets and Financial Liabilities and
Change in Accounting for Equity Securities & New Impairment Model.