FASB’s New Proposal for Measuring and Reporting Credit Losses

Financial Institutions

March 01, 2013
by Brett Schwantes, CPA

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Brett Schwantes Brett Schwantes, CPA
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On December 20, 2012, the Financial Accounting Standards Board (FASB) released for comment a proposed Accounting Standards Update (ASU) titled Financial Instruments—Credit Losses (Subtopic 825-15). The proposed ASU would require institutions to evaluate impairment of all financial assets not accounted for at fair value (“financial assets”), including debt securities and loans, based on the current estimate of contractual cash flows not expected to be collected on financial assets held at the reporting date.


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