Learning Center

This course provides an overview of the credit losses standard issued by the Financial Accounting Standards Board (FASB) in June 2016. The standard (issued through ASU No. 2016-13) applies to nearly all entities, not just those in the financial services industry, and changes how entities document and account for credit impairment on their respective financial instruments. This standard is effective for public business entities for annual periods beginning after December 15, 2019 and interim periods therein. As such, this means that calendar-year SEC filers will have to apply the new requirements starting in first quarter 2020. For other entities, given certain delays issued by the FASB, it is effective for periods beginning after December 15, 2022.