An Updated Look at CECL

Thoughtware Article Published: Dec 19, 2019
Hands pointing at charts and a computer

Given the magnitude of changes created by CECL, FASB has issued several subsequent amendments to clarify implementation and transition issues that are reflected in this white paper. FASB also established a Transition Resource Group (TRG) for Credit Losses, which addressed a number of additional questions that did not merit standard setting but provide meaningful insights as implementation efforts get underway. This paper contains a summary of all the issues discussed at the three public TRG meetings held to date, information from banking regulator speeches, webinars and public documents and American Institute of CPAs guidance exposed and finalized.


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