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Credit Impairment - Financial Instruments: Mastering the New FASB Requirements for the Allowance for Credit Loss

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$89.00 Regular Registration
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$109.00 Regular Registration
Designed For:

Accountants in public practice and industry who need an update on the latest financial instruments guidance.

How does the guidance in the new financial instruments standards differ from current GAAP? This CPE course addresses this question by examining the core principles of the new standards. Featuring enhanced discussions surrounding available-for-sale and held-to-maturity debt securities accounting guidance, this CPE course will teach accountants in public practice and industry the background, purpose, and main provisions of the new financial instruments standards. Specifically, the course will address transition guidance, disclosure requirements, and implementation guidance. FASB's financial instruments projects reconsider classification and measurement of financial instruments, as well as issues related to impairment of financial instruments.

Challenge in Implementation
The challenge in implementation will be in collecting the significant new level of data required at the segment and class level data sets. The advantages under FASB ASU No. 2016-13 are that the amendments eliminate the probable initial recognition threshold in current GAAP and, instead, reflect an entity's current estimate of all expected credit losses. FASB allows an entity to apply methods that reasonably reflect the entity's expectations of the credit loss estimate. FASB expects that an entity can leverage its current systems and methods for recording the allowance for credit losses. However, the inputs used to record the allowance for credit losses generally will need to change to appropriately reflect an estimate of expected credit losses and the use of reasonable and supportable forecasts.


Delivery Method: Self-Study
CPE Credit: Accounting
Program Level: Intermediate

This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by AICPA.

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The Virginia Society of CPAs (VSCPA) 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: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.