The Financial Accounting Standards Board (FASB) has proposed a historic change to its approach in establishing effective dates for new accounting standards. This proposal comes after constituents insisted that small public companies and private entities generally need more time to adopt major…

The Financial Accounting Standards Board (FASB) is proposing review and comment to allow private companies, not-for-profit organizations and certain small public companies more time to apply FASB standards for leases, hedging and current expected credit losses (CECL). Stakeholders should provide…