Accounting  |  Format: Flash

Credit Losses on Financial Instruments - ASU 2016-13

Course Overview
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.

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
  • Recognize recent developments affecting entities who are required to apply the amendments in ASU No. 2016-13
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    Catalog Number: 99CAM04
    CPE Credits: 3 Registry / 3 QAS
    Author: Kelen Camehl
    Prerequisites/
    Advanced Preparation:
    None
    Course Level: Basic
    Field of Study: Accounting
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Sound card with speakers/headphones
     Windows or Mac OS
    Release/Expiration Dates: Apr 06, 2017 / Apr 06, 2020

     

     

     

     

     

     

    http://education.smartpros.com/includes/cpe/coursedetail.asp?CPECatalogID=25565&CourseID=17901