Roadmap
Current Expected Credit Losses
(May 2024)
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This Roadmap provides Deloitte’s
insights into and interpretations of the guidance in FASB Accounting Standards Update
(ASU) No. 2016-13 (codified as ASC 326), Measurement of Credit Losses on Financial
Instruments. The ASU adds to U.S. GAAP an impairment model known as the current
expected credit loss model, which is based on expected losses rather than incurred
losses.
As of the date of this publication, the
FASB has released nine final ASUs to amend certain aspects of ASC 326. In addition, the
Board has issued a proposed ASU that would amend the scope of assets subject to the
model for accounting for purchased credit-deteriorated assets.
Also available is the latest edition of
On the
Radar, a high-level summary of emerging issues
and trends related to the accounting and financial reporting
topics addressed in the Roadmap.
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.