JPM · 10-Q · 2026Q2 · Full report

FASB Accounting Standards Changes

JPMORGAN CHASE & CO · 2026-08-06 · Importance 37 · Surprise 42 · No source text

FASB issued multiple standards that will change JPMorganChase’s reporting requirements beginning in 2027 and 2028. The standards address expense disaggregation, derivative scope, internal-use software capitalization, purchased seasoned loan credit losses, hedge accounting, and environmental credits and obligations. Required adoption dates range from January 1, 2027 to January 1, 2028, and the Firm is evaluating the financial-statement and disclosure impacts as well as its planned adoption dates.

Key facts

• FASB issued 'Environmental Credits and Environmental Credit Obligations' in May 2026 with required effective date January 1, 2028, requiring retrospective adoption through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. source
• FASB issued 'Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures' in November 2024 with required effective date for annual financial statements for the year ending December 31, 2027. source
• FASB issued 'Derivatives and Hedging and Revenue from Contracts with Customers: Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract' in September 2025 with required effective date January 1, 2027. source
• FASB issued 'Intangibles - Goodwill and Other - Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use Software' in September 2025 with required effective date January 1, 2028. source
• FASB issued 'Financial Instruments - Credit Losses: Purchased Loans' in November 2025 with required effective date January 1, 2027, requiring adoption on a prospective basis. source
• FASB issued 'Derivatives and Hedging: Hedge Accounting Improvements' in November 2025 with required effective date January 1, 2027. source

Impact estimates