{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/470/20/#65-transition-and-open-effective-date-information","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"470","topic_title":"Debt","subtopic":"470-20","subtopic_title":"Debt with Conversion and Other Options","section":{"number":"65","label":"65 Transition and Open Effective Date Information","anchor":"65-transition-and-open-effective-date-information","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"470-20-65-1","para":"65-1","html":"
Paragraph superseded on 07/01/2010 after the end of the transition period stated in FASB Staff Position APB 14-1, Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement).
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Paragraph superseded on 03/23/2010 after the end of the transition period stated in FASB Staff Position APB 14-1, Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement).
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Paragraph superseded on 06/20/2011 after the end of the transition period stated in Accounting Standards Update No. 2009-15, Accounting for Own-Share Lending Arrangements in Contemplation of Convertible Debt Issuance or Other Financing.
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Accounting Standards Update No. 2024-04
2027-06-14
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
2025-12-16
The following represents the transition and effective date information related to Accounting Standards Update No. 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments:
Effective date and early adoption
  1. a
    All entities shall apply the pending content that links to this paragraph for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods.
  2. b
    Early adoption of the pending content that links to this paragraph is permitted in an interim or annual reporting period in which financial statements have not yet been issued (or made available for issuance), but no earlier than the adoption of the pending content that links to paragraph 815-40-65-1. If an entity adopts the pending content that links to this paragraph in an interim reporting period, it shall adopt the pending content as of the beginning of the annual reporting period that includes that interim reporting period.
Transition method
  1. c
    An entity shall apply the pending content that links to this paragraph prospectively to settlements of convertible debt instruments that occur during annual reporting periods (and interim reporting periods within those annual reporting periods) beginning after the effective date of the pending content.
  2. d
    An entity may elect to apply the pending content that links to this paragraph retrospectively as of the beginning of the first comparative reporting period in accordance with the guidance on accounting changes in paragraphs
    250-10-45-5 through 45-10
    . This transition method shall be applied only to convertible debt instruments settled after the adoption of the pending content that links to paragraph 815-40-65-1.
Transition disclosures
  1. e
    An entity that applies the pending content that links to this paragraph prospectively in accordance with (c) shall disclose the nature of and reason for the change in accounting principle in the financial statements of both the interim reporting period (if applicable) and the annual reporting period of the change.
  2. f
    An entity applying the pending content that links to this paragraph retrospectively in accordance with (d) shall provide the following transition disclosures in the financial statements of both the interim reporting period (if applicable) and the annual reporting period of the change:
    1. 1
      The nature of the change in accounting principle, including an explanation of the newly adopted accounting principle
    2. 2
      The method of applying the change
    3. 3
      The cumulative effect of the change on retained earnings or other components of equity in the statement of financial position as of the beginning of the first period for which the pending content that links to this paragraph is initially applied
    4. 4
      The effect of the change on income from continuing operations, net income (or other appropriate captions of changes in the applicable net assets or performance indicator), any other affected financial statement line item, and any affected per-share amounts for any prior periods retrospectively adjusted.
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