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Course Details

Credit Losses on Financial Instruments (Course Id 1215)

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Author : Kelen Camehl, CPA, MBA
Status : Production
CPE Credits : 4.0
IRS Credits : 0
Price : $39.95
Passing Score : 70%
Primary Subject-Field Of Study:

Accounting - Accounting and Auditing for Course Id 1215

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.

Usage Rank : 0
Release : 2017
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 03-May-2017
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1215

Keywords : Accounting, Credit, Losses, Financial, Instruments, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon completion of this course, you 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. 2016-13 and IFRS 9
  • Recognize recent developments affecting entities who are required to apply the amendments in ASU No. 2016-13
Course Contents :

Chapter 1 - Credit Losses on Financial Instruments

Course Overview

Learning Objectives

Introduction

Background

Main Provisions of the ASU

Assets Measured at Amortized Cost

Review Questions

 

Initial Measurement of Expected Losses

Review Questions

 

Subsequent Measurement of Expected Credit Losses

Presentation

Illustrative Examples

Review Questions

 

Financial Statement Disclosures

Review Questions

 

Available-for-Sale Debt Securities

Subsequent Measurement

Review Questions

 

Financial Statement Disclosures

Transition

Recent Developments

Comparison to IFRS 9

Review Questions

 

Glossary

Accounting Course 1215 Home: https://www.cpethink.com/accounting-cpa-courses
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