FASB Issues Accounting Standards Update, Codification Improvements to Topic 326 (Credit Losses) — This document outlines the issued update to FASB’s new standards for evaluating credit losses. (11/15) Source: FASB Financial Accounting Standards Board
Current Expected Credit Loss: CECL News & Events
FASB Proposed Accounting Standards Update, Codification Improvements to Topic 326, Financial Instruments — Credit Losses
FASB Proposed Accounting Standards Update, Codification Improvements to Topic 326 (Credit Losses) — This document outlines the proposed update to FASB’s new standards for evaluating credit losses. (8/18) Click here to download the PDF Source: FASB Financial Accounting Standards Board
FASB Proposes Narrow-scope Improvements to Credit Losses Standard — News Release
FASB Proposes Narrow-scope Improvements to Credit Losses Standard – The news release provides information on the proposed updates to the accounting standards regarding credit losses. (8/18) Source: FASB Financial Accounting Standards Board
CECL – Raising the Standards of Success
Overview of the Rules CECL overhauls the current impairment models for loans, leases and debt securities, and also impacts commitments. It removes the “probable” threshold under the “incurred loss model” for recognizing credit losses. Firms will be required to report the current estimate of lifetime loan losses, incorporated into the Allowance for Loan and Lease… Read more »
FDIC FIL-41-2017 New Accounting Standard on Credit Losses: Frequently Asked Questions
Frequently Asked Questions on the New Accounting Standard on Financial Instruments – Credit Losses — Federal financial institution regulatory agencies release FAQs as support for examiners and institutions as they prepare for CECL implementation. (9/17) Click here to download the PDF Source: Federal Deposit Insurance Corporation
FASB In Focus: Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326)
FASB: ASU Update on Credit Losses (Topic 326) – An update on FASB’s new standards for evaluating credit losses. (6/16) Source: FASB Financial Accounting Standards Board
FASB Issues New Guidance on Accounting for Credit Losses – News Release
FASB Issues New Guidance on Accounting for Credit Losses – The news release provides information on the new ASU, along with a video of why a new credit losses standard. (6/16) Source: FASB Financial Accounting Standards Board
FASB: An Overview of ASU 2016-13 Financial Instruments — Credit Losses (Topic 326)
FASB’s Overview of the New Standard – This overview outlines important information on the new guidance regarding expected credit losses, effective dates, and additional information, provided by FASB. Click here to download the PDF Source: FASB Financial Accounting Standards Board
Bank Accounting Advisory Series (BAAS), Topic 4, “Allowance for Loan and Lease Losses”
OCC’s (BAAS) Allowance for Loan and Lease Losses — The BAAS expresses the OCC’s views on accounting with regards to the new ASU. ( 6/12) Click here to view BAAS’s Update Click here to download the PDF Source: OCC Office of the Comptroller of the Currency
FASB Accounting Standards Update, Receivables (Topic 310), Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses
Receivables (Topic 310) – The main objective in this ASU is to provide greater transparency about an entity’s allowance for credit losses and the credit quality of its financing receivables. ( 7/10) Source: FASB Financial Accounting Standards Board