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Credit Losses Under ASC 326   

2

Total CPE
Tuition
$195.00
Approximate Length
01:40:00
Course Number
20-WB-224
2

Total CPE
Tuition
$195.00
Approximate Length
01:40:00
Course Number
20-WB-224

Course Details

Estimating credit losses under ASC 326 requires a high degree of judgment. It also requires the application of a consistent methodology that must consider information about past events, current conditions, and reasonable and supportable forecasts about the future.

This course covers the principles of and accounting for credit losses under ASC Topic 326, including how to estimate credit losses, considering information about past events, current conditions, and reasonable and supportable forecasts.

By the end of this course, participants should be able to:

  • identify instruments within the scope of the CECL model
  • recall the principles and concepts to be applied when estimating current expected credit losses under ASC 326
  • recognize when the "gross-up" approach for calculating the Day 1 amortized cost of purchased credit deteriorated assets is appropriate
  • recall the process of assessing available-for-sale debt securities for impairment under ASC 326.

 

NOTE: For additional technical and/or regulatory updates, please subscribe to Financial Reporting View for the latest insights.

Keywords: CECL, ASC 326, Credit Losses, Accounting, Internal Controls, Financial Reporting, Impairment, Accounting

Other Details

Special Notice/Instruction: CPE credits will be awarded upon successful completion of the content and passing the exam with a grade of 70 or higher. In accordance with NASBA requirements, you must complete and pass the exam within one year of your enrollment in the program.

NASBA Delivery Type: Self-Study

Advance Preparation: There is no advance preparation for this course.

This course is not mobile-compatible.


Level of Knowledge: Basic
Field of Study: Accounting - 2
Delivery Method: Web Based Self Study

Estimating credit losses under ASC 326 requires a high degree of judgment. It also requires the application of a consistent methodology that must consider information about past events, current conditions, and reasonable and supportable forecasts about the future.

This course covers the principles of and accounting for credit losses under ASC Topic 326, including how to estimate credit losses, considering information about past events, current conditions, and reasonable and supportable forecasts.

By the end of this course, participants should be able to:

  • identify instruments within the scope of the CECL model
  • recall the principles and concepts to be applied when estimating current expected credit losses under ASC 326
  • recognize when the "gross-up" approach for calculating the Day 1 amortized cost of purchased credit deteriorated assets is appropriate
  • recall the process of assessing available-for-sale debt securities for impairment under ASC 326.

 

NOTE: For additional technical and/or regulatory updates, please subscribe to Financial Reporting View for the latest insights.

Keywords: CECL, ASC 326, Credit Losses, Accounting, Internal Controls, Financial Reporting, Impairment, Accounting

Special Notice/Instruction: CPE credits will be awarded upon successful completion of the content and passing the exam with a grade of 70 or higher. In accordance with NASBA requirements, you must complete and pass the exam within one year of your enrollment in the program.

NASBA Delivery Type: Self-Study

Advance Preparation: There is no advance preparation for this course.

This course is not mobile-compatible.


Level of Knowledge: Basic
Field of Study: Accounting - 2
Delivery Method: Web Based Self Study
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