CECL Accounting Standard 2 Credits
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The COVID-19 pandemic is affecting economic and financial markets. As efforts are made to address the impacts of the pandemic, virtually all industries and governments are facing challenges from the resulting economic conditions.
Among the challenges are several COVID-19-related accounting implications, including the determination of expected credit losses under the new CECL standard.
The Current Estimated Credit Loss Model (CECL) is considered the biggest change to hit the banking and credit union industries.
Although the standard has been postponed to the first quarter of 2020 for public business entities that file with the Securities and Exchange Commission, 2021 for all other public business entities as this term is defined under the accounting standards, and 2022 for all remaining banks and credit unions this is a standard that you need to understand now and start the process for implementation.
CECL is going to require your institution to gather data that you currently don’t track in your data processing system.
For you to be able to properly adapt the standard you need to start inputting this data into your system now. To the extent, you are originating loans before the required implementation you need to know the effect CECL will have on your allowance for loan losses calculation so that you can build that additional cost into your loan pricing models. Lastly, you should understand the effect that CECL will have on your capital position so that you adjust your growth and dividend plans over the next couple of years if necessary.
This CPE webinar will help you to properly adapt to the standard.
Accounting standards implementation is often a finance-only effort, but not CECL. It has many governances, modeling, credit analysis, information technology, and financial reporting interdependencies.
Key topics discussed in this webinar:
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 2 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Accounting for CIPM | 2 PL | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 2 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Accounting for CIPM | 2 PL | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 2 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Accounting for CIPM | 2 PL | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Financial Reporting for Accredited in Business Valuation (ABV) | 2 CPD | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 2 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Accounting for CIPM | 2 PL | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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Richard Cascarino has, for the last thirty-three
years, been providing Internal Audit, Fraud Audit, IS Audit Consultancy, Risk
Management and Corporate Governance consultancy as well as Professional
Development services to clients throughout the United States of America, the
African region, Europe and the Middle East. These include Central Banks
and Financial Institutions, some of the largest corporations, government
departments, auditors general, and professional bodies in their respective
countries.
He is also a visiting Lecturer at the University of the Witwatersrand, lead author of the book Internal Auditing - an Integrated Approach, published by Juta Publishing. In addition, he is the author of the Auditor's Guide to IT Auditing and Corporate Fraud and Internal Control: A Framework for Prevention" published by Wiley
Publishing He is also a contributor to QFINANCE – The Ultimate Resource
published by Bloomsbury.
Richard Cascarino has, for the last thirty-three
years, been providing Internal Audit, Fraud Audit, IS Audit Consultancy, Risk
Management and Corporate Governance consultancy as well as Professional
Development services to clients throughout the United States of America, the
African region, Europe and the Middle East. These include Central Banks
and Financial Institutions, some of the largest corporations, government
departments, auditors general, and professional bodies in their respective
countries.
He is also a visiting Lecturer at the University of the Witwatersrand, lead author of the book Internal Auditing - an Integrated Approach, published by Juta Publishing. In addition, he is the author of the Auditor's Guide to IT Auditing and Corporate Fraud and Internal Control: A Framework for Prevention" published by Wiley
Publishing He is also a contributor to QFINANCE – The Ultimate Resource
published by Bloomsbury.
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To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
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