FMN Accounting

FMN - 2018/September, Seg.2 - Preparing for the New Credit Loss Model: The CECL Approach

Course Overview
Businesses, as well as banks, are facing a new accounting model for credit losses, known as "current expected credit loss" or CECL. Under the revised standard, accounting is based on historical and current losses, as well as on any deficit that is expected to occur in the future over the entire lifetime of a loan. Eric Segal, managing director of CFO Consulting Partners, warns that this change in loss reserve philosophy will require enterprises to set aside capital for future loss events that could take place - even if they have not yet occurred.

Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Recognize the difference between the incurred loss accounting standard and the new current expected credit loss (CECL) approach;
  • Identify the characteristics of the current expected credit loss methodology;
  • Recognize what is involved in order to comply with CECL; and
  • Identify the steps an organization should take to implement CECL.

Prerequisites/Advanced Preparation:

Work experience in financial reporting or accounting, or an introductory course in accounting

Speaker / Author:

FMN Online
SmartPros Ltd. is a leader in online and offline continuing education for
accounting, finance and engineering professionals. With over 2,000 hours of content, SmartPros has been providing mandatory continuing education products since 1981. SmartPros provides services and content to its professional and corporate clients, in a variety of media including Web, CD-ROM, and video. In the accounting market, SmartPros also has a predominant news and information portal which receives 200,000+ visits per month and provides services to over 100,000 subscribers. SmartPros' customers include 50% of the Fortune 500, as well as the major firms and associations in each of its professional markets.

Price (USD)

Standard: $69.90


Course Code : FMN1269-FM

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

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