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FASB Issues ASU 2016-06 and ASU 2016-07

ASU 2016-06 is intended to simplify the analysis of embedded derivatives for debt instruments that contain contingent put or call options. ASU 2016-07 eliminates the requirement to retroactively adopt the equity method of accounting and affects all entities that have an investment that becomes qualified for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence.