The objective of this course is to address the changes made by ASU 2016-13 to the recording of credit losses on financial instruments. ASU 2016-13 introduces new ASC 326 and its new expected credit losses model which replaces the current incurred loss model. ASU 2016-13 provides financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date.
Course No. F220
Format: Online pdf (76 pages).
Prerequisites: Basic understanding of U.S. GAAP and existing lease accounting
CPE Credit: 2 Hrs.
Field of Study: Accounting/Technical
Course expiration: You have one year from date of purchase to complete the course.
Course Revision Date: February 2024