How COVID-19 Affects Estimating Credit Losses Under Topic 326  

Topic 326, Financial Instruments-Credit Losses, was a hot topic even before the coronavirus hit. COVID-19 has permeated the globe, and economies are faltering. Accountants must estimate expected credit losses on financial assets amidst extraordinary uncertainty. In this course, we talk about possible accounting effects of the coronavirus when applying the current expected credit loss (CECL) model in Topic 326 to instruments measured at amortized cost. Topic 326 provides separate guidance for available-for-sale debt securities. This overview course may be appropriate for professionals at all organizational levels.

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