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Despite calls to delay CECL, FASB plans amendments

Tammy Whitehouse | November 9, 2018

Without yet addressing calls for a delay or big changes to the pending new rules on credit losses, the Financial Accounting Standards Board has decided to follow the advice of an advisory group and make some amendments to the standard.

During a regularly scheduled session, FASB reviewed recommendations from its Credit Losses Transition Resources Group to make amendments to Accounting Standards Codification Topic 326 on credit losses, which requires companies to adopt a “current expected credit losses” model to project and report trouble in debt portfolios beginning...

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