What moved, and when it applies.
Standard-setter amendments that change a cell in the matrix, with the effective date. Newest first.
- 2025-09-18US GAAPIntangible assets & goodwill
Removes the three-stage project model from ASC 350-40; capitalisation of internal-use software costs starts when management has authorised and committed to funding the project and it is probable the software will be completed and used, with website development costs folded into 350-40. Effective for annual periods beginning after 15 December 2027, early adoption permitted.
Effective 2028-01-01 - 2025-07-30US GAAPFinancial instruments
Adds a practical expedient allowing entities to assume current conditions as of the balance sheet date persist through the forecast period when estimating CECL allowances on current receivables and contract assets arising under ASC 606, with a further accounting policy election for non-public entities. Effective for annual periods beginning after 15 December 2025.
Effective 2026-01-01 - 2024-11-04
Requires public business entities to disclose, in a new tabular note, specified expense categories (such as purchases of inventory, employee compensation, and depreciation and amortisation) within relevant income statement captions. Effective for annual periods beginning after 15 December 2026.
Effective 2027-01-01 - 2023-12-14US GAAPIncome taxes
Requires public business entities to disaggregate the rate reconciliation into specified categories at a quantitative threshold and all entities to disaggregate income taxes paid by federal, state and significant foreign jurisdictions. Effective for annual periods beginning after 15 December 2024 (public business entities) and after 15 December 2025 (all other entities).
Effective 2025-01-01 - 2023-08-23US GAAPConsolidation & scope
Requires a newly formed joint venture to apply a form of the acquisition method to recognise and initially measure its own assets and liabilities at fair value on formation, closing a gap left by the absence of specific guidance in Topic 805. Effective prospectively for joint venture formations with a formation date on or after 1 January 2025, with early application permitted.
Effective 2025-01-01 - 2023-03-27US GAAPBusiness combinations
Not a business-combinations amendment itself, but a reminder that common-control transactions, including those effected as a combination, follow ASC 805-50 rather than the acquisition method; the ASU gives private companies a practical expedient for leasehold terms in a common-control arrangement. Effective for fiscal years beginning after 15 December 2023.
Effective 2024-01-01 - 2022-03-31US GAAPFinancial instruments
Removes the separate troubled debt restructuring recognition and measurement guidance for creditors that have adopted CECL, replacing it with enhanced disclosures about loan modifications to borrowers in financial difficulty, and requires gross write-offs by vintage in the credit quality disclosures. Effective for fiscal years beginning after 15 December 2022.
Effective 2023-01-01 - 2021-10-28US GAAPRevenue recognition
An acquirer recognises and measures contract assets and contract liabilities acquired in a business combination under ASC 606 as if it had originated the contracts, instead of at fair value, so deferred revenue is no longer haircut on acquisition. Effective for public business entities for fiscal years beginning after 15 December 2022, other entities a year later. IFRS 3 still measures acquired contract liabilities at fair value.
Effective 2023-01-01 - 2021-03-30US GAAPImpairment of assets
Lets private companies and not-for-profit entities evaluate goodwill impairment triggering events only as of the reporting date rather than throughout the period, extending the Private Company Council's goodwill amortisation alternative. Effective for fiscal years beginning after 15 December 2019 with early adoption permitted.
Effective 2020-01-01 - 2018-10-31US GAAPConsolidation & scope
Extends the private-company alternative from common-control leasing arrangements to other qualifying common-control arrangements, and requires indirect interests held by related parties under common control to be considered on a proportional basis, rather than in full, when assessing whether a decision-maker's fee arrangement is a variable interest. Effective for fiscal years beginning after 15 December 2019 for public business entities.
Effective 2020-01-01 - 2018-08-28US GAAPEmployee benefits & pensionsASU 2018-14: Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans
Removes some existing ASC 715-20 disclosures (e.g. amounts expected to be returned to the employer, certain related-party detail) and adds others (weighted-average interest crediting rates for cash balance plans, an explanation of significant gains and losses affecting the benefit obligation). Effective for fiscal years ending after 15 December 2020 for public business entities, after 15 December 2021 for other entities.
Effective 2020-12-15 - 2017-01-26US GAAPImpairment of assetsASU 2017-04 Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
Eliminated Step 2 of the goodwill impairment test (the hypothetical purchase price allocation); the loss is now the excess of a reporting unit's carrying amount over its fair value, capped at the goodwill allocated to the unit. Effective for SEC filers other than smaller reporting companies for fiscal years beginning after 15 December 2019 and, after the ASU 2019-10 deferral, for all other entities after 15 December 2022.
Effective 2020-01-01 - 2017-01-05US GAAPBusiness combinations
Adds a screen test — if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar assets, the set is not a business — and clarifies the inputs-and-substantive-process requirement, converging the US GAAP definition of a business toward the direction IFRS 3 later took. Effective for fiscal years beginning after 15 December 2017 for public business entities.
Effective 2018-01-01 - 2015-09-25US GAAPBusiness combinations
Requires an acquirer to recognise a measurement-period adjustment in the period it is identified, with the effect on earlier periods shown supplementally rather than by retrospectively restating comparatives, moving US GAAP away from the retrospective adjustment IFRS 3.49 still requires. Effective for fiscal years beginning after 15 December 2015 for public business entities.
Effective 2016-01-01