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.