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FASB Decides on New Exposure for Impairments

Tammy Whitehouse | October 12, 2012

In light of its new course on impairment, the Financial Accounting Standards Board will issue a new exposure draft of its planned credit impairment model separate from its proposals for financial instruments broadly. 

FASB parted ways with the International Accounting Standards Board on developing an impairment model for expected credit losses when it heard feedback from U.S. constituents that the plan the boards were developing together would be unworkable. With IASB holding fast to its planned approach, FASB chose a different path and developed its own model, which it calls the “current expected credit loss” model. The changes are significant enough, FASB decided at a recent meeting, that it will issue a separate...

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