Most companies have heard that the CECL model emphasizes the need to recognize “expected” credit losses over the contractual life of the loan versus the current “incurred” loss approach, which..

For many, June 30 represents the end of the second fiscal quarter (also often referred to as “Filer Status Day”), marking the date by which companies re-evaluate their SEC filing status by..

Credit unions and other entities who have yet to adopt Current Expected Credit Loss (CECL) need to consider how to handle the allowance modeling. One of the earliest and most critical decisions in..

Current Expected Credit Losses (CECL) may be the most sweeping accounting change to ever hit the financial services industry. CECL impacts virtually every regulated and non-regulated financial..

Companies tapping the capital markets in 2020 still need to apply old complex rules to account for convertible debt and equity-linked instruments. Accounting for these instruments has been..

The clock is ticking: Lenders, have your CARES Act or banking Interagency Statement loan modifications become a TDR (Troubled Debt Restructuring)?

During its May 20, 2020 meeting, the Financial Accounting Standards Board (FASB) discussed proposed limited deferral of the effective dates of certain new accounting standards in light of the..

One of the consequences of the COVID-19 pandemic outbreak is a considerable change in consumer habits. As a result, companies may experience a sizable decrease or increase in demand. Managing the..

When an organization enters into a line of credit or business loan, it is common for the debt agreement to include financial covenants. These covenants typically prescribe conditions that must be..

In times of economic uncertainty (such as the one created by COVID-19), one of your organization’s most important considerations is undoubtedly cash and, by extension, accounts receivable. If cash..

One of the challenges facing organizations during this pandemic is the completion of standard close procedures and audit preparation with a fragmented team. In general, it is not uncommon for..

How is it possible to estimate expected credit losses over the contractual life of financial assets in an environment that drastically changes day-by-day? In the three months since CECL became..

On April 10, 2020, the Financial Accounting Standards Board (FASB) released a Staff Q&A to provide guidance surrounding the accounting for lease concessions granted by landlords as a result of the..