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Guidance equips companies to advance CECL adoption

Tammy Whitehouse | September 4, 2018

Recent new guidance and potentially more to come is aiding companies in their long journey to new accounting for credit losses.

The Financial Accounting Standards Board and its Transition Resource Groupare working through questions and determining where standard setting might be in order to help companies that are determining how to develop a more forward-looking approach to recognizing credit losses in financial statements.

Accounting Standards Codification Topic 326 requires companies to develop and implement a “current expected credit losses” approach to determine when and in what amounts to recognize losses arising from credit instruments. Public companies are required to reflect the new CECL...

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