Accounting Standards Update (ASU) 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses For Accounts Receivable And Contract Assets, provided some potential simplifications for the application of FASB Accounting Standards Codification (FASB ASC) 326, Financial Instruments—Credit Losses, (CECL) for current accounts receivable and current contract assets. Many practitioners are advising their calendar year clients on early adoption of ASU 2025-05. In this report, we provide our perspective on early adoption, provide disclosure examples, and address adoption questions that have
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ASU 2025-05: Implementation and Disclosures
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