FASB voted to delay both revenue recognition and leases for private entities at their May 20th meeting. The original proposal was for a delay for private company franchisors to receive a one year delay of revenue recognition. But the Board added all private entities that have not yet issued financials. In addition, both “public” and private nonprofits as well as all private entities receive an extra year (in addition to ASU 2019-10) for leases. ASU to be issued in June!