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FASB clarifies recognition, measurement of financial instruments

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This New Developments Summary discusses the new guidance in the FASB’s Accounting Standards Update (ASU) 2018-03, Technical Corrections and Improvements to Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. The guidance in ASU 2018-03 is designed to clarify certain aspects of recognizing and measuring financial assets and liabilities under ASU 2016-01. Grant Thornton’s NDS 2018-04, “Recognition and measurement of financial instruments,” can be downloaded here.

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