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Podcast overview

ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø professionals discuss the impacts of ASU 2022-02 and answer questions encountered in practice about the elimination of separate recognition and measurement of TDRs and the required enhanced disclosures for modified receivables.

Applicability

• Applies to all creditors with modifications of receivables from borrowers experiencing financial difficulty

Relevant dates

The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This effective date is the same for all entities. Entities that have not previously adopted ASC 326 will adopt the ASU at the same time they adopt ASC 326.

Early adoption is permitted for an entity that has adopted ASC 326. An entity can early adopt the guidance for modified receivables in any interim period, but must apply all of the ASU’s guidance for modified receivables as of the beginning of the fiscal year that includes the interim period.

Podcast contents

• 0:55Ìýâ€� Overview of ASU 2022-02
  
• 3:00Ìý– Key impacts and transition approach
• 7:15 – Modifications included in the enhanced disclosures requirements
  
• 10:50 – Implementation Q&As