FASB Tackles CECL Questions

The Financial Accounting Standards Board’s (FASB) Transition Resource Group for Credit Losses recently addressed these issues:
- Consideration of prepayments in the discount rate used in a discounted cash flow method
- Scope of purchased financial assets with credit deterioration guidance for beneficial interests within Accounting Standards Codification 325-40
- Transitioning purchased credit-impaired pools
- Accounting for troubled debt restructurings
- Determining the estimated life of a credit card receivable