- TX Credits : 0.2
As of January 1, many public entities began to apply the current expected credit loss (CECL) model under Topic 326, Financial Instruments-Credit Losses. Due to the pandemic, stakeholders are concerned about losses.
The coronavirus pandemic has placed an economic strain on the world. The effective dates for CECL may be affected by the pandemic. For example, the President approved a coronavirus relief package. Buried within is a provision aimed at pushing back the effective dates of the CECL model for banks, at least until the pandemic ends or December 31, 2020 (whichever happens first).
Disclosures are critical to help stakeholders understand the effects of the coronavirus, in particular, for credit losses. This course explores considerations when describing your accounting for CECL in the times of the coronavirus. This overview course may be appropriate for professionals at all organizational levels.
Thomson Reuters is committed to bringing innovative solutions to you, now including nano-learning! As per NASBA Standards, a nano-learning course is a 10-minute, electronic, self-study course in which you are eligible to earn 1/5 (or 0.2) CPE credits.
At this time, nano-learning is not accepted by all state boards. If you are not sure whether your state board accepts nano-learning, you can ask your state board or visit the NASBA registry: (nasbaregistry.org).
Upon successful completion of this course, the user should be able to:
recognize considerations when describing accounting for CECL in the times of the coronavirus.