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FASB proposes amendments to CECL standard

Tammy Whitehouse | August 21, 2018

The Financial Accounting Standards Board is proposing some amendments to the pending new standard on credit losses.

FASB describes the proposed amendments as “codification improvements,” referring to Topic 326 of the Accounting Standards Codification, which is where companies can find the rules describing the “current expected credit losses” (CECL) approach to reflecting debt-based financial instruments in financial statements.

As its name suggests, CECL takes a more current or even forward-looking approach to explaining...

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