Accounting for Credit Losses - Getting to Know CECL FLEXCAST
Available Until
Your Desk
2.0 Credits
Member Price $98.00
Non-Member Price $113.00
Overview
The accounting for credit losses has changed drastically as the result of ASU 2016-13. Some practitioners believe that this update only applies to financial institutions, but it not only applies, buts will also have a major impact on most other entities as well. In this course, Jeff Sailor explains the new concept of CECL and how it is used to account for credit losses. The focus on this course will be on the accounting while including just enough finance information for the standard to make sense. In addition, he will provide advice on how to coordinate the efforts of the accounting staff with that of the finance department.
Highlights
Navigating the Standard. Assets Measured at Amortized Cost. Initial Measurement. Factors to Adjust Historical. Collective Basis Evaluation. Judgments for Estimation. Weighted-Average Remaining Maturity Method. Off-Balance-Sheet Credit Exposures. Subsequent Measurement. Collateral-Dependent Financial Asset.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Define CECL. Explain the differences between CECL and current GAAP. Describe various methods for applying CECL. Apply CECL to loans. Apply CECL to trade receivables. Apply the proper prestation. Explain the general nature of required disclosures.
Preparation
None.
Notice
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Leader(s):
Leader Bios
Jeff Sailor, Western CPE
Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software.
Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights with humor in high-energy presentations. He’s also adept at presenting complex topics in a very practical, easy-to-understand manner, thus earning him rave reviews for more than 20 years. Jeff currently presents seminars, webcasts, and in-house instruction for Western CPE. He’s also a featured speaker at national conferences as well as at state and regional meetings.
For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. He also served on the Resource Committee for the Private Company Financial Reporting Committee (PCFRC). Jeff has spoken at two NASBA national conferences on how to make education more engaging for practitioners.
Non-Member Price $113.00
Member Price $98.00