Financial Reporting Issues

Credit Losses on Financial Instruments - ASU 2016-13 v4.0

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 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 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 requirements starting in the first quarter of 2020. 

Learning Objectives:

After completing this course, participants should 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 prescribed 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


Prerequisites/Advanced Preparation:

None

Speaker / Author:

Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".   

Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX.  Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment.  Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.


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Price (USD)

Standard: $99.80

Details

Course Code : 99CAM04-v4

Release Date : 02/27/2023
Expire Date : 01/31/2025
Credits :
CPE 4.00
QAS 4.00

Length : 3hr 20min
Course Level : Overview
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Accounting Issues

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