Learning Center

The current expected credit loss (CECL) standard is one of the most significant accounting changes in decades as it affects the way companies evaluate impairment of financial assets such as loans, receivables and investments in debt securities.Ivan Cilik, a Partner, and Sean Statz, a Senior Manager, both with the accounting firm Baker Tilly, describe the major aspects of the CECL standard and explain the significant challenges that come along with its implementation.