FASB’s new credit impairment rules will be effective for 2023 financial statements for all non-SEC companies and nonprofit organizations. The changes cover trade receivables, among other financial assets. Some changes for receivables are subtle, and long-dated receivables will be subject to new disclosure.
All Companies & NFPs Could Be Impacted by CECL
Private Company Reporting • September 13, 2022
FASB’s new credit impairment rules will impact all non-SEC companies and nonprofit organizations starting with 2023 financial statements.
