1-Day Program

See Credit Details Below

Overview

Why You Should Attend

The FASB’s new current expected credit loss (CECL) impairment standard creates an entirely new model for estimating allowances for loss on all financial assets.  Under this new model, systems and methodologies will need to be adapted and implementation will require complex estimation processes, including developing new information about historical credit losses and making judgments about when and how to adjust historical information to reflect expectations of future losses.  In this interactive Workshop participants will learn the foundational concepts of the CECL model along with practical implementation steps to move from incurred loss to current expected credit loss accounting.  The less pervasive changes for available-for-sale financial instruments along with required system changes and practical steps for implementation will also be reviewed in-depth.

What You Will Learn

  • Transition dates and methods for adoption
  • The conceptual underpinnings and definitions for the CECL model
  • Movement from incurred losses to current expected credit losses
  • Information required to estimate current expected credit losses
  • Historical information and internal and external information
  • Estimates and judgments required to adjust historical information based on future expectations
  • When to revert to historical information
  • Methodologies to estimate CECL
  • How the new model applies to assets purchased with credit deterioration
  • Revised accounting for credit losses for available-for-sale financial instruments
  • Application to PCD assets and certain beneficial interests
  • Internal control over financial reporting considerations
  • Required disclosures
  • Latest update from the Credit Losses Transition Resource Group

What You Should Bring

To customize your Workshop experience and gain the most benefit from this interactive learning experience we recommend you bring information about how you currently estimate allowances for loss on financial instruments.

Who Should Attend

This Workshop is geared to financial reporting professionals who are involved in developing allowances for loss on financial instruments or need to understand how this accounting affects their financial reporting.  In addition, professionals in other areas such as treasury, analysis and operations who need to understand how the new accounting for financial instrument impairment will affect financial statements will benefit from this Workshop.

Program Level: Overview

Intended Audience: Financial reporting professionals involved in developing allowances for loss on financial instruments or need to understand how this accounting affects their financial reporting.  In addition, professionals in other areas such as treasury, analysis and operations who need to understand how the new accounting for financial instrument impairment will affect financial statements.

Prerequisites: Basic background in accounting for credit losses. 

Advanced Preparation: None

 

Credit Details

Schedule & Location