Current Expected Credit Losses

Roadmap
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.

The FASB Accounting Standards Codification® material is copyrighted by the Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, and is reproduced with permission.

This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.

The services described herein are illustrative in nature and are intended to demonstrate our experience and capabilities in these areas; however, due to independence restrictions that may apply to audit clients (including affiliates) of Deloitte & Touche LLP, we may be unable to provide certain services based on individual facts and circumstances.

As used in this document, “Deloitte” means Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and Deloitte Financial Advisory Services LLP, which are separate subsidiaries of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of our legal structure.