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Current Expected Credit Losses

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Current Expected Credit Losses (December 2020)

  • Download the PDF version (available without subscription; not updated after issuance).
  • View the active version (subscription required; updated as warranted). For subscribers, links to substantive changes made to the Roadmap since its issuance, if any, will be provided below.
Since the issuance of ASU 2016-13 (codified in ASC 326) on June 16, 2016, the FASB has focused on implementation efforts related to the adoption of this ASU. Over the past few years, the FASB has held three transition resource group (TRG) meetings, nine public board meetings, and numerous public roundtables and credit losses workshops to discuss implementation questions raised and challenges identified by stakeholders. In response to the feedback received, the FASB has issued (as of the date of this publication) seven final ASUs to amend certain aspects of ASC 326.
The body of the Roadmap combines the requirements in ASC 326 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. We hope that this publication will help readers navigate some of the more challenging aspects of the new credit losses standard. This publication has been developed for readers who have been following every development of the standard, as well as for readers who have not been following all developments and may be working through the standard for the first time. That is, it may function as a quick resource guide for those who have a specific question and are looking for a clear answer, or it may serve as an all-encompassing guide for those who are still building up their knowledge base to lead or work through an implementation.
Although certain calendar-year-end public companies have already adopted the guidance, challenging questions remain. Accordingly, we will continue to develop guidance that we believe will help stakeholders with their implementation challenges.
Be sure to check out other titles in Deloitte’s Roadmap series, our comprehensive, easy-to-understand collection of accounting guides on selected topics of broad interest to the financial reporting community.