Watch Now CECL Accounting Standard with my-CPE Accounting webinar

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CECL Accounting Standard

Learning Objectives

To discuss the overview of the CECL calculation under three widely recognized methods.
To analyze how the accounting change for classified loans is considered impaired under FAS #114 or for troubled debt restructured loans.
To investigate what data is needed to implement CECL.
To discuss how is this data gathered, how should an institution track it, and when should an institution start to gather the data.
To analyze what are the typical subjective adjustments used in the CECL calculation and what data and other information will be needed to support an institution’s adjustments.
To discuss what other information will be needed to justify your subjective adjustments and where can you obtain this information.
To list best practices and/or lessons learned from larger institutions that have already taken the steps to calculate CECL.
To discuss what are the regulator's expectations for banks and credit unions both before you are required to implement CECL and after.

Course Description

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 delayed 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 Accounting 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:

Overview of the CECL calculation under three widely recognized methods
How will the accounting change for classified loans considered impaired under FAS #114 or for troubled debt restructure loans?
What data is needed to implement CECL?
How is this data gathered, how should an institution track it, and when should an institution start to gather the data?
What are the typical subjective adjustments used in the CECL calculation and what data and other information will be needed to support an institution’s adjustments?
What other information will be needed to justify your subjective adjustments and where can you obtain this information?
Best practices and/or lessons learned from larger institutions that have already taken the steps to calculate CECL
What are the regulator's expectations for banks and credit unions both before you are required to implement CECL and after?

Webinar Qualifies For

2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
2 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
2 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
2 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
2 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
2 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
2 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
2 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
2 PL Credit of Accounting for Chartered Financial Analyst (CFA)
2 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
2 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
2 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
2 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
2 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
2 CPE Credit of Accounting for Iowa Licensed Public Accountant (IA-LPA)
2 PL Credit of Accounting for CIPM
2 CPE Credit of Accounting for Maine Licensed Public Accountant (ME-LPA)
2 CPE Credit of Accounting for Delaware Licensed Public Accountant (DE-LPA)

About Instructor

Richard Cascarino, CRMA, CIA, CISM, CFE

Founder, Richard Cascarino & Associates

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.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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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.

Ratings and Review

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CBI

Clarence Baker Iii, CFE, CPA (US)

Excellent presentation and wealth of knowledge in the international market place. This is a challenging topic, but the instructor provide simple terms for improved understanding.

Kim Banks, CPA (US)

great learning experience.

Kelsey Mason, CPA (US)

Great webinar!

Ashley Turney, CPA (US)

Great value.

Yan Ji, CPA (US)

good course.

2 Credits

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Subject Area

Accounting

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CECL Accounting Standard

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Richard Cascarino, CRMA, CIA, CISM, CFE

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

3.9

Clarence Baker Iii, CFE, CPA (US)

Kim Banks, CPA (US)

Kelsey Mason, CPA (US)

Ashley Turney, CPA (US)

Yan Ji, CPA (US)

Subject Area

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