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A Dive Into FASB’s CECL & IASB’s IFRS 9
Content Type: Resource Center

Although following the financial crisis, many believed the IASB and FASB would converge to create a universal accounting standard, the two standard setting bodies could not agree on fundamental principles of accounting for credit losses. As a result, each body set out to create its own standard; the IASB released IFRS 9 Financial Instruments in July of 2014, whereas the FASB is expected to release its CECL model later this year. This article provides an overview of each model and offers insight into one expert's opinion.

FASB’s CECL Model: How to Prepare Now
Content Type: Resource Center

This webinar discusses proactive steps institutions can take in order to prepare for the Financial Accounting Standards Board's (FASB's) anticipated release of the new Current Expected Credit Loss Model (CECL). By transitioning to a model that requires institutions to calculate expected losses, data requirements and the complexity of the overall calculation will increase drastically. Institutions should examine their current data processes and determine whether or not they are sustainable given the demands that will come with the new accounting standards.