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FASB Revises Views on Expected Credit Losses

Tammy Whitehouse | November 17, 2010

The Financial Accounting Standards Board is starting to soften its stand on how companies should account for expected credit losses as it pick through a long list of objections to its proposed accounting standards update for financial instruments.

FASB met with the International Accounting Standards Board to work through various questions regarding whether and how companies should account for expected impairments, or loan losses. The boards have tentatively decided that a company should determine its expected credit losses based on all available information, including historical data, current economic conditions, and forecasts of future economic conditions that are backed by good...

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