Credit Losses on Financial Instruments

4.5 (2)

Kelen Camehl, MBA

Kelen Camehl CPA

  • CPA
  • CIA

Before starting this self study program, please go through the instructional document.

Overview

  • Overview of Accounting Standards Update (ASU) No. 2016-13
  • Application of New Accounting Standards
  • Effectiveness of New Accounting Standards for public business entities.
  • Potential SEC comment letters and auditor concerns
  • Measurement of Credit Losses on Financial Instruments

Course Description

This course provides an in-depth overview of Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments, issued by the Financial Accounting Standards Board (FASB) in June 2016.  The new standard will apply to nearly all entities, not just those in the financial services industry, and will change how entities document and account for credit impairment on their respective financial instruments.  This new standard is effective for public business entities for annual periods beginning after December 15, 2019 and interim periods therein.  As such, this means that calendar-year SEC filers will have to apply the new requirements starting in first quarter 2020.

Learning Objectives

  • To identify the key provisions as it relates to ASU No. 2016-13
  • To recognize key background information as it relates to the development of ASU No. 2016-13
  • To recognize the credit loss measurement requirements for assets measured at amortized cost and available-for-sale debt securities
  • To identify the incremental financial statement disclosure requirements as a result of ASU No. 2016-13
  • To identify the effective date and transition requirements

Who Should Attend?

  • Accountant

Testimonial

4.5

(2)
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