EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Select your location
Local sites
Overview
In our comment letter, we support the FASB’s proposal to (1) improve the guidance in ASC 815 by expanding the scope of contracts that would be excluded from derivative accounting and (2) clarify how to account for a share-based payment from a customer that is consideration for the transfer of goods or services under ASC 606. However, we recommend revising certain aspects of the proposed guidance to address potential operational issues, including eliminating the predominant characteristics assessment and clarifying certain language.