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AICPA Audit and Accounting Guide: Credit Losses
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AICPA Audit and Accounting Guide: Credit Losses

Offering the latest guidance on credit loss, this publication addresses accounting implementation issues, and offers in-depth coverage of audit considerations from risk assessment and planning to execution of the audit.

$129 - $169
Do you have an AICPA membership? Log in to apply your member discount.

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1 year

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AAGCECLO

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Understand the latest guidance on credit loss.

On June 16, 2016, FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, to amend guidance on reporting credit losses for financial assets held at amortized costs basis and available-for-sale debt securities and create FASB Accounting Standards Codification (ASC) 326, Financial Instruments - Credit Losses.

Upon the effective date of this ASU, the incurred loss impairment methodology in current GAAP is replaced with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates.

In response to the issuance of FASB ASC 326, the AICPA organized the Credit Loss Task Force to identify and address accounting implementation issues related to this standard.

In light of the new accounting requirements, this publication will address accounting implementation issues identified by the task force as well as provide in-depth coverage of audit considerations from risk assessment and planning to execution of the audit.

Note: Accounting and auditing content will be updated on a regular basis in future editions of this guide as taskforces finalize each implementation issue.

This guidance has been developed and reviewed by leading experts across the profession to provide the most comprehensive and reliable implementation guidance. Accounting guidance has been reviewed by the AICPA’s Financial Reporting Executive Committee (FinREC), or one of its sub-committees, and, as always, auditing guidance in AICPA audit and accounting guides are issued under the authority of the Auditing Standards Board (ASB) and therefore considered authoritative guidance

Who Will Benefit
  • Management accounting and financial professionals
  • Auditors who need to understand the latest guidance on credit loss with a focus on Lending Institutions and Insurance Companies.
Key Topics
  • Key accounting provisions of FASB ASC 326.
  • Key accounting implementation issues and interpretations identified by the Credit Loss Task Force
  • Comprehensive coverage of audit considerations specific to the allowance for credit loss transactions, including controls, audit risk, and management estimates. Content for audit considerations developed by task force comprised of highly experienced industry experts.
More Details
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This is a digital product. You will have access to the content for 1 year after purchase date. It is set to automatically renew upon expiration, at the current price and your membership level. Your credit card details will be saved to your account and you will have the option to edit this auto renewal after purchase
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Nonmembers
$169.00
AICPA Members
$129.00

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AICPA Audit and Accounting Guide: Credit Losses
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$169.00
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