FASB proposes to delay accounting standards in response to coronavirus

The Financial Accounting Standards Board plans to propose that private companies and not-for-profit organizations get an extra year to implement the lease accounting standard while they deal with the pandemic, while also giving private franchisor companies an extra year to get ready for the revenue recognition standard.

Original Article Posted at : https://www.accountingtoday.com/news/fasb-proposes-to-delay-accounting-standards-in-response-to-coronavirus