CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Credit Losses on Financial Instruments

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
4 Credits: Accounting

Course Description

This course provides an in-depth overview of Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments, issued by the Financial Accounting Standards Board (FASB) in June 2016.  The new standard will apply to nearly all entities, not just those in the financial services industry, and will change how entities document and account for credit impairment on their respective financial instruments.  This new standard is effective for public business entities for annual periods beginning after December 15, 2019 and interim periods therein.  As such, this means that calendar-year SEC filers will have to apply the new requirements starting in first quarter 2020.

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

Course Specifics

Course ID
1203528
Original Release Date
August 7, 2020
Revision Date
August 7, 2020
Number of Pages
90
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Kelen Camehl Headshot
Kelen Camehl, CPA, MBA

Kelen is a CPA with over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP, Inc. in Budapest, Hungary and previously served as a Senior Accounting Policy Manager for the company in Houston, TX (relocated in 2018 due to spousal expat assignment). Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors. Kelen is …

Kelen Camehl, CPA, MBA Read More »

Credit Losses on Financial Instruments

Expert Instructors
Format
CPE CREDITS
4 Credits: Accounting

$116.00$136.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
4 Credits: Accounting

Course Description

This course provides an in-depth overview of Accounting Standards Update (ASU) No. 2016-13, Measurement of Credit Losses on Financial Instruments, issued by the Financial Accounting Standards Board (FASB) in June 2016.  The new standard will apply to nearly all entities, not just those in the financial services industry, and will change how entities document and account for credit impairment on their respective financial instruments.  This new standard is effective for public business entities for annual periods beginning after December 15, 2019 and interim periods therein.  As such, this means that calendar-year SEC filers will have to apply the new requirements starting in first quarter 2020.

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

Course Specifics

Course ID
1203528
Original Release Date
August 7, 2020
Revision Date
August 7, 2020
Number of Pages
90
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Kelen Camehl Headshot
Kelen Camehl, CPA, MBA

Kelen is a CPA with over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP, Inc. in Budapest, Hungary and previously served as a Senior Accounting Policy Manager for the company in Houston, TX (relocated in 2018 due to spousal expat assignment). Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors. Kelen is …

Kelen Camehl, CPA, MBA Read More »

Credit Losses on Financial Instruments

Expert Instructors
Format
CPE CREDITS
4 Credits: Accounting

$116.00$136.00

Clear