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FASB Requires More Disclosures Around Credit Risk

Tammy Whitehouse | July 23, 2010

The Financial Accounting Standards Board has finalized a stop-gap disclosure rule to flesh out more information about the credit quality of financing receivables as it continues to develop a more comprehensive standard on financial instruments.

Accounting Standards Update No. 2010-20, Receivables (Topic 310) calls for more credit risk disclosures to give investors a better view of the credit risk in a company’s portfolio of receivables as well as the adequacy of its allowance for credit losses. Under the update, companies will be required to say more about aging receivables and credit quality indicators in particular.

The new disclosure requirements affect financing receivables and trade accounts...

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