© 2018 RSM US LLP. All rights reserved.
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
Two recent FEI guides provide internal control considerations for adoption of the new leases and CECL standards.
Join RSM for for an overview of today’s pressing accounting and tax issues your financial institution needs to know now.
FINANCIAL REPORTING INSIGHTS
In July, the FASB tentatively decided to amend the effective date of ASU 2016-13 for non-public business entities.
Bank executives weigh in and provide insightful information on the impact of CECL and plans for implementation.
If adopted early, FASB’s new credit impairment model, or CECL, could have a significant effect on specialty lenders as soon as 2019.
From CECL to tax legislation, what do you need to know? Register now for our Nov. 15 webcast for key tax and accounting updates.
FINANCIAL INSTITUTIONS INSIGHTS
Understanding how CECL will affect accounting for loans and other assets during acquisitions will be vital for financial institutions.
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.
Join RSM for an overview of FASB’s new credit impairment model—one of the most significant accounting standards banks have faced in years.
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.
Financial Institution Insights
delivers news and information critical to community banking professionals. The bi-monthly newsletter tackles issues ranging from IT security to regulatory compliance to operational improvement.
Compliance news for the banking and investment industry. Gain insights about the latest compliance news and how it will affect your business.