The FASB proposed deferring the effective dates of the new standard on long-duration insurance contracts. The proposal would require SEC filers that are not smaller reporting companies to adopt the standard for fiscal years beginning after 15 December 2021, including interim periods within those fiscal years. All other entities would be required to adopt it for fiscal years beginning after 15 December 2023, and interim periods a year later. Comments on the proposal are due by 20 September 2019.
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