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CECL Resource Center

What you need to know about the new CECL standard

FASB’s new CECL standard is a major compliance challenge for financial institutions. RSM’s CECL Resource Center will help you prepare.

On June 16, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This is one of the most significant accounting changes to confront financial institutions in decades and presents a significant new compliance challenge.

CECL raises some key questions for banks and credit unions, including:

  • How will you segment your loan and investment portfolios based on their risk characteristics?
  • CECL’s data demands—have you identified and are your systems ready to deliver the data you will need to comply with CECL?
  • CECL’s requirements – which methodologies best suit your loans and investments?
  • How will CECL affect accounting for mergers or acquisitions?

RSM’s following thought leadership offers key insights into what CECL means and what your institution needs to do now to prepare. Or learn how RSM’s Rapid Assessment® can put you on the fast track to CECL compliance.

MOST POPULAR INSIGHTS

FINANCIAL REPORTING INSIGHTS

ICFR considerations for adoption of leases and CECL standards

Two recent FEI guides provide internal control considerations for adoption of the new leases and CECL standards.

  • December 18, 2018

RECORDED WEBCAST

From CECL to tax reform: What do you need to know?

Join RSM for for an overview of today’s pressing accounting and tax issues your financial institution needs to know now.

  • December 11, 2018

FINANCIAL REPORTING INSIGHTS

Recent tentative FASB decisions regarding credit losses standard

In July, the FASB tentatively decided to amend the effective date of ASU 2016-13 for non-public business entities.

  • August 14, 2018
Impact of CECL and plans for implementation

INSIGHT ARTICLE

Impact of CECL and plans for implementation

Bank executives weigh in and provide insightful information on the impact of CECL and plans for implementation.

  • June 05, 2018

VIDEO

Impact of CECL on specialty finance companies

If adopted early, FASB’s new credit impairment model, or CECL, could have a significant effect on specialty lenders as soon as 2019.

  • Bob Eash, Robert McMurry
  • |
  • November 17, 2017

RECORDED WEBCAST

Key year-end accounting and tax issues for financial institutions

From CECL to tax legislation, what do you need to know? Register now for our Nov. 15 webcast for key tax and accounting updates.

  • November 15, 2017

ARTICLE

How CECL affects financial institutions acquisition accounting

Understanding how CECL will affect accounting for loans and other assets during acquisitions will be vital for financial institutions.

  • John Behringer, Suzanne Marra, Frank O’Connor
  • |
  • June 01, 2017

WHITE PAPER

Financial instruments: In-depth analysis of standard on credit losses

Analysis of ASU 2016-13’s new credit impairment guidance (e.g., the CECL model), including a comparison of the new guidance to the old.

  • Faye Miller, Mike Lundberg
  • |
  • August 17, 2016

RECORDED WEBCAST

Understanding FASB's new credit impairment model

Join RSM for an overview of FASB’s new credit impairment model—one of the most significant accounting standards banks have faced in years.

  • June 30, 2016

INSIGHT ARTICLE

FASB issues final standard on credit losses

On June 16, 2016, the FASB issued its long-awaited new standard on credit losses, namely Accounting Standards Update (ASU) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.

  • June 16, 2016

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Events/Webcasts

RECORDED WEBCAST

From CECL to tax reform: What do you need to know?

  • December 11, 2018

RECORDED WEBCAST

Key year-end accounting and tax issues for financial institutions

  • November 15, 2017

RECORDED WEBCAST

Understanding FASB's new credit impairment model

  • June 30, 2016

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