Understanding FASB's new credit impairment model
RECORDED WEBCAST |
The Financial Accounting Standards Board has finally released its new credit impairment model, one of the most significant accounting standards changes to affect financial institutions in years. How will you get your organization from where you are to where you need to be?
Join experienced professionals from RSM’s National Professional Standards Group to answer these key questions:
- What should you be doing now to prepare?
- What will be the most challenging aspects of implementation?
- What should your implementation plan and team look like?
This new standard will require financial institutions to re-examine everything from their modeling options to their data requirements to how they segment their loan and investment portfolios. Join us for this vital webcast to learn more.
Note: Subsequent to the recording of this webcast, the FASB changed the effective date of its new credit impairment model. The new credit impairment model is effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies (as defined by the SEC), for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other entities, it is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. All entities are permitted to adopt early. For additional information on the new credit impairment model, refer to Chapters 4 and 6 of our publication, A guide to accounting for investments, loans and other receivables.