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

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

Addresses the guidance in the new financial instruments standards and how it differs from current GAAP.

$150 - $189
Do you have an AICPA membership? Log in to apply your member discount.

Format

Online

NASBA Field of Study

Accounting

Level

Intermediate

CPE Credits

6.5

Author(s)

Michael Umscheid

Availability

1 year

Product Number

164924

 Business & partner 
Product Details

Examine the core principles.

Understand the background, purpose, and main provisions of the new financial instruments standards through enhanced discussions surrounding different types of loans, available-forsale and held-to-maturity debt securities, and accounting guidance.

Learn how FASB's financial instruments projects reconsider classification and measurement of financial instruments, as well as issues related to impairment of financial instruments.

Revised to reflect updates to the standard from the Transition Resource Group process, this course addresses:

  • Transition guidance
  • Disclosure requirements
  • Implementation guidance

Challenge in Implementation

Understand the challenge in implementation, which will be collecting the significant level of data now required at the segment and class level data sets. The FASB amendments eliminate the probable initial recognition threshold in current GAAP and require forecasting of risk over the contractual term of financial assets

FASB allows an entity to apply methods that reasonably reflect expectations of the credit loss estimate and 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 will need to change to reflect an estimate of expected credit losses and the use of reasonable and supportable.

Who Will Benefit
  • Accountants in public practice and industry professionals who focus on loan and investment accounting who need an update on the latest financial instruments guidance.
Key Topics
  • Credit Impairment
  • Current expected credit loss history
  • Measuring expected credit losses
  • Bond and equity portfolios
  • Current expected credit loss models
  • Presentation and disclosure requirements
Learning Outcomes
  • Identify changes in FASB ASC 825, Financial Instruments, as a result of the new financial instrument standards on classification and measurement and impairment.
  • Recall key points related to the simplification of accounting requirements.
  • Recall significant points related to the credit loss model for financial assets for the recognition of losses.
  • Identify related disclosure requirements.
Credit Info
CPE Credits
Online
6.5
NASBA Field of Study
Accounting
Level
Intermediate
Prerequisites
Experience in the application of accounting standards
Access
Online
This is a digital product. You will have access to the content for 1 year after purchase date.
Pricing
Do you have an AICPA membership? Log in to apply your member discount.
Nonmembers
Online
$189.00
AICPA Members
Online
$150.00

Group ordering for your team

2 to 5 registrants

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6+ registrants

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at salessupport@aicpa.org

Contact us
Instructors
Michael Umscheid
CPA
Mike serves as Chief Executive Officer and President of Harbinger Technology Solutions, LLC. For over 25 years, he has been providing consulting and auditing services to public and non-public companies. Mike has spoken at numerous national and regional workshops and seminars for industry-related groups and regulators including AICPA's National Banking Conference and National Credit Union Conference. Mike is a Member of the American Institute of Certified Public Accountants (AICPA). He was also a member of the Auditing Standards Board. Mike served as Chairman of the AICPA's Financial Services Expert Panel and the AICPA Internal Control Task Force on SAS 112, SAS 115, and AT 501. He is co-editor of the Audits of Financial Institution Manual published by Thompson Publishing (PPC) and co-author of PPC's Guide to PCAOB Audits.
Accessibility

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services. The Association is committed to making professional learning accessible to all. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. For accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

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Credit Impairment - Financial Instruments: Mastering the New FASB Requirements for the Allowance for Credit Loss
Select from the following options:
Online
$189.00
Nonmember Price
$189.00
Price excluding sales tax
$189.00
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

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