1.FASB released ASU 2018-13 in August, 2018.This ASU impacts the disclosures for fair value measurement (ASC 820)

a.Why did FASB issue this update?

b.Who is affected by the amendments in this update?

c.The main provisions of this update fall into what 3 categories?

d.The codification lists the following for the effective date(s) for ASU 2018-13;

(P) December 16, 2019; (N) December 16, 2019

Based upon these effective dates have all public and private entities implemented the new guidance?As of June 1, 2021 will all both public and private entities completed their first fiscal year of this new guidance?Explain your answer.