FASB Staff Issues Q&As on Expected Credit Losses
The FASB staff has issued a Q&A document, Topic 326, No. 2: Developing an Estimate of Expected Credit Losses on Financial Assets.
The Q&As address the following topics:
- “Use of historical loss information.”
- “Making reasonable and supportable forecasts.”
- “The reversion to historical loss information.”
For more information, see the press release and Q&A document on the FASB’s Web site.