All Credit Losses articles
-
ArticleFive insights gleaned from PCAOB audit committee chair report
The Public Company Accounting Oversight Board published its annual report highlighting feedback received from its discussions with audit committee chairs at U.S. public companies during the previous year.
-
ArticleWhat companies/auditors need to know for 2021 year-end audits
The continued effects of the pandemic, along with the implementation of new accounting standards, have companies and their auditors confronting substantial change in year-end audits.
-
ArticleCECL roundtable explores implementation issues during COVID
How the Financial Accounting Standards Board’s CECL standard fared during the height of the pandemic and more were discussed as part of a virtual roundtable.
-
ArticleFASB Chair Jones projects pandemic challenges to persist in 2021
New FASB Chairman Richard Jones said in a recent speech that he believes accounting challenges from the coronavirus pandemic won’t go away soon, with his organization poised to address new issues as they arise.
-
ArticleCECL delayed amid U.S. government’s coronavirus response
FASB’s controversial standard on credit losses was dealt two significant blows Friday as the U.S. government scrambles to respond to the financial impact of the escalating coronavirus pandemic.
-
ArticleBanks finalize CECL prep, but others have work to do
Big banks are making progress in preparing for CECL, but non-bank operating companies are likely to face a heavier lift as they approach the fourth quarter.
-
ArticleAuditors develop practice aid to compare notes on CECL
Auditors are comparing notes on how they will interact with audit committees regarding CECL, developing a practice aid that might also interest preparers.
-
ArticleInvestors want more from banks on CECL, says FASB member
Investors want more information from leading banks over how financial statements will be affected by the adoption of the new CECL approach to credit losses.
-
ArticleFASB plans delay for new insurance standard
FASB is proposing another accounting delay, this time for a standard that will change the way companies recognize long-term insurance obligations.
-
ArticleFASB to push CECL to 2023 for small public companies
FASB has signaled it plans to extend CECL for smaller public companies to 2023, along with delaying a number of other effective dates.
-
ArticleFASB proposes small changes to CECL standard
FASB has issued a proposed revision to the CECL standard to address a handful of implementation questions as companies prepare for the new accounting.
-
Blog
FASB preps CECL edit to allow more fair value
To make it easier for companies to adopt CECL for credit losses, FASB is considering a change that would permit more use of fair value.
-
Blog
FASB tees up CECL issues, but not deferral
The FASB will meet to discern implementation issues associated with CECL, but the possibility of a deferral in the effective date is not on the agenda.
-
Blog
FASB hears CECL concerns, plans March meeting date
Making no promises about what action, if any, it will take, FASB will meet in March to discuss the CECL standard on credit losses.
-
Blog
FASB issues Q&A on CECL method, sets roundtable date
To answer CECL implementation questions, FASB issued a Q&A focusing on the weight average remaining maturity, or WARM, method some entities are exploring.
-
Blog
Banking regulators approve CECL relief measure
Banking regulators issued some relief for banks worried about the effects of adopting CECL, but bankers are still concerned it won’t go far enough.
-
Blog
FASB proposes updates to financial instrument rules
FASB has issued a proposal to amend rules on three major standards on financial instruments to address clarity and implementation issues.
-
Blog
FEI group provides guides on leases, CECL controls
FEI’s corporate reporting group has developed its own guides for preparers on how to assure sound controls with major new accounting adoptions.
-
Blog
Despite calls to delay CECL, FASB plans amendments
FASB has decided to follow the advice of an advisory group and make some changes to CECL to address implementation issues.
-
Article
Guidance equips companies to advance CECL adoption
Recent guidance and potentially more to come is aiding companies in their long journey to adopt the new CECL method for reflecting credit losses.