Credit Losses on Financial Instruments
This course provides an in-depth overview of Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments, issued by the Financial Accounting Standards Board (FASB) in June 2016. The new standard will apply to nearly all entities, not just those in the financial services industry, and will change how entities document and account for credit impairment on their respective financial instruments. This new standard is effective for public business entities for annual periods beginning after December 15, 2019 and interim periods therein. As such, this means that calendar-year SEC filers will have to apply the new requirements starting in first quarter 2020.

Course Publication Date: June 05, 2020

This course is available with NO ADDITIONAL FEE if you have an active self study membership or all access membership or can be purchased for $40.00!

Author:Kelen Camehl
Course No:ACT-LOSS-8020
Recommended CPE:4.00
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Prerequisites:None
Advanced Preparation:None
Recommended Field of Study:Accounting
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Learning Objectives
  • Identify the key provisions as it relates to ASU No. 2016-13.
  • Recognize key background information as it relates to the development of ASU No. 2016-13.
  • Recognize the credit loss measurement requirements for assets measured at amortized cost and available-for-sale debt securities.
  • Identify the incremental financial statement disclosure requirements as a result of ASU No. 2016-13.
  • Identify the effective date and transition requirements.
  • Differentiate the requirements prescribe by ASU No. 2016-13 and IFRS 9.
  • Recognize recent developments affecting entities who are required to apply the amendments in ASU No. 2016-13.

CPE Depot Inc. 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: www.nasbaregistry.org.

Sponsor Number: 109423

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