This week Heather Horn was joined by Bret Dooley, Angela Fergason, and Jay Seliber, partners in PwC’s National Office, to discuss the FASB’s recently released guidance that is effective in 2022.In this episode you’ll hear them discuss:3:25 - CECL applicability for private companies and lessons learned from adoption by public companies5:34 - ASU 2020-06 related to debt and equity instruments that contain conversion features9:15 - ASU 2021-04 related to certain modifications of freestanding equity-classified written call options15:32 - ASU 2021-05 related to lessor classification of certain sales-type leases that result in a “day one” loss20:05 - ASU 2021-10 related to disclosures by business entities about government assistance29:01 - ASU 2021-08 related to contract assets and contract liabilities acquired in a business combination36:17 - ASU 2017-04 related to simplifying the test for goodwill impairment41:19 - New FASB guidance that can be adopted early in 2022Bret Dooley is a partner in PwC’s National Office with over 25 years of experience specializing in the financial services, banking, and capital markets industries. He focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.Angela Fergason is a partner in PwC's National Office with over 20 years of experience who specializes in accounting for revenue and employee compensation arrangements. She is a frequent speaker on accounting and financial reporting topics and is a contributor to many PwC National Office publications, including our accounting guides on revenue and stock-based compensation.Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative to the FASB's Emerging Issues Task Force. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.