Course Description

This course provides an overview of Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments, issued by the Financial Accounting Standards Board (FASB) in June 2016. The new standard will apply to nearly all entities, not just those in the financial services industry, and will change how entities document and account for credit impairment on their respective financial instruments. This new 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.

Learning objectives

• Identify the key provisions as it relates to ASU No. 2016-13.
• Recognize the credit loss measurement requirements for assets measured at amortized cost and available-for-sale debt securities.
• Identify the financial statement disclosure requirements as a result of ASU No. 2016-13.
• Identify the effective date and transition requirements.
• Recognize recent developments affecting entities who are required to apply the amendments in ASU No. 2016-13.

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.