Courses

Surgent's Applying the CECL Credit Loss Standard to Non-Banking Situations

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Member Price: $159.00 Non-Member Price: $219.00

Date/Time:: Apr 29, 2025, 1:30pm–5:00pm
Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:: Accounting: 2.00, Auditing: 2.00
Fields of Study:: Accounting, Auditing
Level:: Update

The effective date for private companies of ASC 326, Credit Losses, is rapidly approaching. Staring in 2023, all entities will be recording credit losses using the current estimate of credit loss (CECL) model, which will accelerate the recognition of such losses for all companies, including non-lending institutions and companies with trade accounts and leases receivable. This new guidance truly impacts all entities.

In this course, we'll focus on applying the ASC 326 guidance to non-lending institutions. We'll review the CECL model and discuss how to apply it to trade accounts receivables and lease receivables, as well as the other financial assets which are in the scope of the new guidance. We'll also examine how to transition to the CECL guidance as well as review the new and voluminous disclosures required by ASC 326.

2023 is right around the corner and now is the time to get up to speed on the impact of this new guidance.

Objective

Identify the key provisions of ASC 326
Recall how to apply these provisions to trade and lease receivables
Recall the disclosure requirements for CECL
Identify approaches to audit the transition to and ongoing accounting for CECL

Highlights

Overview of ASC 326, Credit Losses
Application of ASC 326 to non-lending institutions
CECL transition and disclosures
Audit considerations related to the adoption and ongoing accounting for CECL

Designed For

All accounting practitioners subject to AICPA standards

Prerequisite

Experience in financial accounting and reporting

Advanced Preparation

None