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FASB preps CECL edit to allow more fair value

Tammy Whitehouse | February 11, 2019

To make it easier for companies to adopt a new standard on credit losses, the Financial Accounting Standards Board is considering a change that would permit more use of fair value.

The current expected credit losses model, or CECL, required under Accounting Standards Codification Topic 326 takes effect Jan. 1, 2020. FASB’s Transition Resource Group is fielding implementation questions and concerns related to ASC 326 adoption to help companies interpret and prepare for the new standard.

In addition to replacing an incurred loss approach to measuring and reporting credit losses with a more forward-looking approach under CECL, the new standard also modifies the accounting approach for available-for-sale debt securities. ASC 326 requires...

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