This course is designed to provide you with an understanding of the difference between the existing GAAP incurred loss model for recognizing credit losses and the new CECL model. We will review the changes in ASU’s related to the new guidance, along with the implications of these changes. The course will provide up-to-date information on reporting and implementation of the CECL models.
In addition, the course will explain the most common models for use and how to enhance their application to your CECL implementation as we identify the drivers and complexity of each model.
What You’ll Learn
- Identify the difference between an incurred loss model and an expected loss model
- Understand U.S. GAAP guidance including relevant ASU’s
- Know which companies and portfolios the guidance applies to
- Understand the reporting requirements
- Develop an understanding of the use of several models for calculation of CECL
- Enhance your implementation process and data collection
- Clearly describe the difference in approach and impact of financial statements
Who Should Attend
This course will provide a solid foundation for all accountants, auditors, and those involved in financial reporting for financial institutions and other companies that extend credit through lease or other asset portfolios.
