CECL

The board has voted to defer the effective date of its long-duration insurance contract standard for one year.

Richard Jones is making post-implementation reviews of standards one of his top priorities, and taking a closer look at FASB’s crowded agenda.

The six largest credit card issuers have set aside billions of dollars worth of reserves in response to the novel coronavirus as well as the adoption of the Financial Accounting Standards Board’s new credit losses standard.

The pandemic and the new accounting standard are leading to lower regulatory capital ratios at global investment banks, according to a new report.

The Financial Accounting Standards Board will be meeting next week to discuss the impact of the novel coronavirus pandemic on its stakeholders, including pushing back the effective dates of some of its upcoming accounting standards.

The $2.2 trillion package passed by the Senate includes a provision that would allow banks the temporary option to postpone compliance with the credit losses standard.

The Financial Accounting Standards Board has come under pressure to relax its credit losses standard as banks and other financial institutions see the value of their assets plunging from the sell-off in the capital markets amid the coronavirus pandemic.

The Financial Accounting Standards Board issued the Current Expected Credit Loss (CECL) accounting standard in 2016. Since then, many questions have been raised about what it requires, particularly by financial services companies.

The Financial Accounting Standards Board made some narrow improvements to different aspects of the financial instruments guidance, including the current expected credit losses standard.

CECL’s impact on a financial institution is all about the portfolio makeup.

The Big Four firm's Board Leadership Center predicts reinforcing audit quality and setting clear expectations for external auditors will be top of mind in the year ahead.

The new credit losses accounting standard is not expected to have a major impact on the loan loss reserves of most large publicly listed U.S. banks, according to Moody’s Investors Service.

Financial institutions are getting ready to begin complying this year with the Financial Accounting Standards Board’s new credit losses standard, which means they will need to start making disclosures about their loan portfolios.

All eyes will be on the large SEC registrants in January as they become the first financial institutions to adopt the current expected credit loss model, or CECL.

The two proposals would offer guidance on implementing the Financial Accounting Standards Board’s new standards for long-duration insurance contracts and credit losses.

Many consumer industry companies extend credit or hold significant financial assets. If yours is one of them, it’s time to gear up for the current expected credit loss (CECL) accounting standard.

The board issued an ASU Tuesday to tweak its credit losses standard to deal with some of the issues raised by stakeholders.

The Financial Accounting Standards Board officially delayed the effective dates of its accounting standards for leases, credit losses, hedging and long-duration insurance contracts by issuing a pair of accounting standards updates.

The accounting impact is estimated to affect more than 5,000 commercial banks and other financial entities that provide credit in the U.S., as well as non-financial institutions.

The board aims to help community banks and credit unions with the new standard.