Credit Losses on Financial Instruments

4 Credits: Accounting


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Credit Losses on Financial Instruments

Course Level
CPE Credits

4 Credits: Accounting

Course Description

ASU No. 2016-13 represents a pivotal change in accounting for credit losses, affecting a broad range of entities. This course provides a comprehensive overview of this significant FASB update, preparing participants for its application and impact on financial reporting. Attendees will explore the key aspects of ASU No. 2016-13, gaining insights into its background and the rationale behind its development. The course meticulously covers the measurement requirements for credit losses, focusing on assets at amortized cost and available-for-sale debt securities. It also highlights the incremental disclosure requirements introduced by the update, equipping professionals with the knowledge to enhance transparency in financial statements. Understanding the effective date and transition requirements is crucial, and this course ensures that participants are well-prepared for these changes, particularly for SEC filers starting in 2020. Additionally, the course offers a comparative analysis of ASU No. 2016-13 and IFRS 9, providing a global perspective on credit loss accounting. Attendees will also stay abreast of the latest developments affecting the application of these amendments. This course is an invaluable resource for professionals aiming to adeptly implement the new credit loss standard and maintain compliance in their financial reporting practices.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the key provisions as it relates to ASU No. 2016-13
  • Recognize key background information as it relates to the development of ASU No. 2016-13
  • Recognize the credit loss measurement requirements for assets measured at amortized cost and available-for-sale debt securities
  • Identify the incremental financial statement disclosure requirements as a result of ASU No. 2016-13
  • Identify the effective date and transition requirements
  • Differentiate the requirements prescribe by ASU No. 2016-13and IFRS 9
  • Recognize recent developments affecting entities who are required to apply the amendments in ASU No. 2016-13
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Course Specifics

Course ID
Revision Date
February 21, 2023

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Kelen is a recognized author and reviewer of CPE courses and has authored over 145 courses (350+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s Journal of Accountancy. Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP. Prior to HP, he served in multiple …