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| Author : | Kelen Camehl, CPA, MBA |
| Course Length : | Pages: 55 ||| Review Questions: 15 ||| Final Exam Questions: 20 |
| CPE Credits : | 4.0 |
| IRS Credits : | 0 |
| Price : | $35.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Accounting - Accounting 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 applies to nearly all entities, not just those in the financial services industry, and changes how entities document and account for credit impairment on their respective financial instruments. This new standard was 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 started applying the new requirements starting in the first quarter of 2020. |
| Usage Rank : | 0 |
| Release : | 2023 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Provision for Credit Losses (PCL): Definition, Uses, Example
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 05-Oct-2020 |
| 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 - Text - Technical - NASBA Registry - 1215 |
| Keywords : | Accounting, Credit, Losses, Financial, Instruments, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives
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| Course Contents : | Chapter 1 - Credit Losses on Financial Instruments Course Learning Objectives Course Overview 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 |
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