24WS-0098: Surgent's Applying the CECL Credit Loss Standard to Non-Banking Situations (Webinar)
Tuesday, April 30, 2024
12:30pm - 4:00pm Central Time
4 CPE (4 technical)
The effective date for private companies of ASC 326, Credit Losses, is rapidly approaching. Starting in 2023, all entities will be recording credit losses using the current estimate of credit loss (CECL) model, which will accelerate the recognition of such losses for all companies, including non-lending institutions and companies with trade accounts and leases receivable. This new guidance truly impacts all entities. In this course, we'll focus on applying the ASC 326 guidance to non-lending institutions. We'll review the CECL model and discuss how to apply it to trade accounts receivables and lease receivables, as well as the other financial assets which are in the scope of the new guidance. We'll also examine how to transition to the CECL guidance as well as review the new and voluminous disclosures required by ASC 326.
Major subjects
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Overview of ASC 326, credit losses
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Application of ASC 326 to non-lending institutions
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CECL transition and disclosures
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Audit considerations related to the adoption and ongoing accounting for CECL
Learning objective(s)
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Identify the key provisions of ASC 326
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Recall how to apply these provisions to trade and lease receivables
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Recall the disclosure requirements for CECL
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Identify approaches to audit the transition to and ongoing accounting for CECL
Who should take this program?
All accounting practitioners subject to AICPA standards
Fees
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