2 Credits: Accounting
Before taking this course, the intricate changes brought about by ASU 2016-13, particularly the shift to the CECL model, might seem overwhelming to many accounting professionals. The challenge of transitioning from traditional GAAP to CECL, and understanding its implications beyond financial institutions, can create uncertainty and hesitation in its practical application.
After completing Jeff Sailor‘s course, participants will experience a significant shift in their understanding and application of the CECL model. The course bridges the gap between complex accounting changes and practical, real-world application. Participants will learn not only to define and explain the differences between CECL and current GAAP but also to apply CECL methods effectively to loans and trade receivables. Additionally, the course offers insights into effective collaboration between accounting and finance departments, a critical component in implementing these changes. With this newfound knowledge and understanding, participants will be well-equipped to apply CECL confidently and effectively in their professional roles.
Upon completion of this course, the participant should be able to:
- 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.
December 1, 2020
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
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 …