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Preface

Preface

Preface

We are pleased to present the 2025 edition of Current Expected Credit Losses, which provides an overview of the accounting model for current expected credit losses (CECL) in ASC 326, including Deloitte’s insights into how to apply that guidance in practice. The FASB has continued to conduct its postimplementation review of ASC 326 and to propose revisions to the guidance on credit losses. For instance, the Board has issued proposed ASUs that would (1) amend the scope of assets subject to the model for accounting for purchased credit-deteriorated (PCD) assets and (2) introduce a practical expedient and accounting policy election (see Section 9.2 for more information about the proposed ASUs).
The 2025 edition reflects guidance codified in ASC 326 as of the date of this publication. References to U.S. GAAP applicable before the adoption of ASC 326 have been removed, since ASC 326 became effective for all entities for fiscal years beginning after December 15, 2023. For a table summarizing substantive changes made to this Roadmap since the release of the previous edition, see Appendix D.
Be sure to check out On the Radar (also available as a stand-alone publication), which briefly summarizes emerging issues and trends related to the accounting and financial reporting topics addressed in the Roadmap.