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Credit Losses on Financial Instruments

  • CPA (US)
  • CIA
  • CFE
  • CMA
  • CVA
  • CPA/CFF
  • CFA
  • CGFM
  • IAP
  • CBA/MCBA
  • FPAC
  • QIAL
  • CIPM
Credit Losses on Financial Instruments

Free (Only Today)

4 Credits

Subject Area

Accounting
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

The  Financial Accounting Standards Board (FASB) issued final guidance that significantly changed how entities measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. Through this new amendment outlined in Accounting Standard Codification (ASC) 326, the FASB answered the critics that the current accounting and reporting guidelines will not be able to recognize credit losses in time as compared to the previous delayed reporting. In order to execute this, the new standard replaces the current “incurred loss” approach with an “expected loss” approach model. The new standard simplifies the accounting model for purchased credit-impaired debt securities and loans.

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 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 the first quarter of 2020.

This online Course on Accounting will cover the following key aspects:

  • Main provisions of the ASU
  • Assets measured at amortized cost
  • The initial measurement of expected losses
  • Subsequent measurement of expected credit losses
  • Illustrative examples
  • Financial statement disclosures
  • Available-for-sale Debt Securities
  • Recent Developments
  • Comparison to IFRS 9

If you want to learn more about QuickBooks, we have customized certificate courses for you: Beginners | Advanced | Comprehensive.

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
  • To differentiate the requirements prescribed by ASU no. 2016-13 and IFRS 9
  • To recognize recent developments affecting entities who are required to apply the amendments in ASU No. 2016-13

Course Qualification

Webinar Qualifies For

  • 4 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 4 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
  • 4 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 4 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 4 CPE Credit of Accounting & Auditing for Certified Management Accountants (CMA)
  • 4 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 4 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 4 PL Credit of Accounting for Chartered Financial Analyst (CFA)
  • 4 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
  • 4 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
  • 4 CPD Credit for Association of Chartered Certified Accountants (ACCA)
  • 4 CPD Credit for Chartered Accountant - ICAEW
  • 4 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
  • 4 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
  • 4 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
  • 4 PL Credit of Accounting for CIPM
  • 4 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 4 CPD Credit for Chartered Accountants - Scotland
  • 4 CPD Credit for CPA - Ireland

Additional details

  • Course Level :
    Basic
  • Credits :
    4
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Kelen is a recognized author and reviewer of CPE courses and has authored over 150 courses (370+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".    

Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar.  Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

About Company

Our vision is to create a world where innovation drives extraordinary contributions to humanity. This vision guides everything we do, how we do it, and why we do it. 
Our technology – a product and service portfolio of personal systems, printers, and 3D printing solutions – was created to inspire our vision and we are doing everything in our power across climate action, human rights, and digital equity to make it so. 
We believe thoughtful ideas can come from anyone, anywhere, at any time. And all it takes is one to change the world.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.
  • For Refund and Complaint Resolution Policy, CLICK HERE.

Ratings and Review

4.3

64 Ratings

Excellent

34

Very Good

19

Average

8

Poor

3

Terrible

0

JM

Jeffrey Mcgahren, CPA (US)

Dec 16th, 2023

Pretty difficult course and learned about an area which I was previously unfamiliar. Good for those who have clients in the lending industry.

MJAA

Michael J Alescio Alescio, CPA (US)

Dec 28th, 2023

Well written !

LB

Luke Barber, CPA (US)

Nov 20th, 2023

Thanks!

XD

Xiomara Dow, CPA (US)

Jun 27th, 2024

Good layout of the information and well written examples.

CG

Christmiaty Gerlach, CPA (US)

Jun 17th, 2023

Terrible platform. Too many.problems using the web