Accounting Research Tool
TRG Snapshot Newsletter

Meeting on Credit Losses — June 2018

TRG Snapshot
June 2018
Image cannot be displayed

June 2018 TRG Meeting on Credit Losses

In June 2016, the FASB issued ASU 2016-13, 1which adds to U.S. GAAP an impairment model — known as the current expected credit losses (CECL) model — that is based on expected losses rather than incurred losses. Once effective, the new guidance will significantly change the accounting for credit impairment under ASC 326.2 See Deloitte’s June 17, 2016, Heads Up for more information about the new guidance.