Under extreme pressure to address current accounting guidance on the “Incurred Loss” (IL) model’s inability to prevent past and potentially future global financial crises, the Financial Accounting Standard Board (FASB) has proposed an Accounting Standard Update (ASU) to replace the current IL model for estimating credit losses.

To help financial institutions prepare for the upcoming Current Expected Credit Loss (CECL) model, Doeren Mayhew has released a new e-paper, Ready, Set, Go! Will the Latest Proposed FASB Changes Get the Green Light?, covering:

  • Background on the proposed standard
  • Scope and the changes to expect
  • Challenges of the ASU
  • And more

For more information, download the e-paper, or contact Doeren Mayhew’s dedicated Financial Institutions Group, with CPAs in Troy, Mich., and Houston, Texas.