Prepare for the new credit losses standard with our special report—Radical Changes Coming to Credit Loss Accounting. FASB issued Accounting Standards Update 2016-13, Financial Instruments—Credit Losses (Topic 326) on June 15. The ASU significantly changes how entities measure credit losses for most financial assets. Entities are required to measure expected credit losses at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts.  

This report:

  • Provides expert analysis on the new CECL (current expected credit losses) impairment model;
  • Compares the differences and similarities between the US standards and the international standards (IFRS 9);
  • Offers insights for the application of the new standards.

The report was authored exclusively for Bloomberg BNA by James Green.  Mr. Green was a partner in Arthur Andersen’s Professional Standards Group and a manager at KPMG. He has been offering insights into GAAP for 30 years, helping the Financial Accounting Foundation create the FASB Accounting Standards Codification®. He also authored Bloomberg BNA’s portfolio: Financial Instruments: IFRS 9—Classification and Measurement.

Click here for a copy of the special report.
Continue the discussion on Credit Losses at Bloomberg BNA Accounting LinkedIn group.