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Financial instruments accounting impacts of COVID-19

Hot Topic |聽聽July 2020

Updated: Ongoing economic disruption may impact the accounting for certain financial instruments.

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The ongoing economic downturn caused by COVID-19 may have an impact on the accounting for certain financial instruments. 乐鱼（Leyu）体育官网 highlights key reminders for companies to consider in the current economic environment.

Applicability

  • All companies

Relevant dates

  • Effective immediately

Key impacts

  • We believe the recent economic disruption resulting from COVID-19 may impact accounting and financial reporting for various financial instruments.
  • This latest update provides guidance on hedge accounting when a modified loan or debt instrument, or the interest payments thereon, is the hedged item in a hedging relationship.

Report contents

  • Expected credit losses
  • Loan modifications (lender accounting)
  • Financial guarantees
  • Debt modifications and loan covenants
  • Derivatives: Normal purchases normal sales scope exception
  • Hedge accounting
  • Equity method investments
  • Fair value measurements
  • Investments in debt and equity securities

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Coronavirus

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Impact of economic disruption on expected credit losses

Q1 economic disruption caused by COVID-19 and oil markets should not be reflected in ASC 326 transition adjustment

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Financial reporting impacts of COVID-19

Guidance, updates and news covering financial reporting impacts of COVID-19

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Webcast Replay Webcast Upcoming Listen Now From The Web

Handbook: Credit impairment

Latest edition: Our updated guide to the accounting, presentation and disclosures of CECL

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Webcast Replay Webcast Upcoming Listen Now From The Web

Handbook: Derivatives and hedging

Latest edition: Our in-depth guide on derivatives and hedge accounting, with our latest interpretations.

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Webcast Replay Webcast Upcoming Listen Now From The Web

Handbook: Fair value measurement

Latest edition: Applying fair value measurement and disclosure guidance under US GAAP and IFRS庐 Accounting Standards.

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Webcast Replay Webcast Upcoming Listen Now From The Web

Handbook: Investments

Latest edition: Our guide to accounting for investments in debt and equity securities and the fair value option.

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Meet our team

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Mark Northan
Partner, Dept. of Professional Practice, 乐鱼（Leyu）体育官网 US
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Lisa Blackburn
Partner, Dept. of Professional Practice, 乐鱼（Leyu）体育官网 US
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Image of Mark Northan
Mark Northan
Partner, Dept. of Professional Practice, 乐鱼（Leyu）体育官网 US
Read bio
Image of Lisa Blackburn
Lisa Blackburn
Partner, Dept. of Professional Practice, 乐鱼（Leyu）体育官网 US
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Accounting Research Online

Access our accounting research website for additional resources for your financial reporting needs.

乐鱼（Leyu）体育官网. Make the Difference.


Some or all of the services described herein may not be permissible for 乐鱼（Leyu）体育官网 audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. 乐鱼（Leyu）体育官网 LLP does not provide legal services.

The information contained herein is not intended to be 鈥渨ritten advice concerning one or more Federal tax matters鈥� subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

漏聽2025 乐鱼（Leyu）体育官网 LLP, a Delaware limited liability partnership and a member firm of the 乐鱼（Leyu）体育官网 global organization of independent member firms affiliated with 乐鱼（Leyu）体育官网 International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the 乐鱼（Leyu）体育官网 global organization please visit聽.

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