Accounting for Credit Losses - Getting to Know CECL ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $49.00
Non-Member Price $56.00
Overview
The intricate changes brought about by ASU 2016-13, particularly the shift to the CECL model, might seem overwhelming to many accounting professionals. The challenge of transitioning from traditional GAAP to CECL, and understanding its implications beyond financial institutions, can create uncertainty and hesitation in its practical application. After completing Jeff Sailor’s course, you will experience a significant shift in your understanding and application of the CECL model. The course bridges the gap between complex accounting changes and practical, real-world application. Participants will learn not only to define and explain the differences between CECL and current GAAP but also to apply CECL methods effectively to loans and trade receivables. Additionally, the course offers insights into effective collaboration between accounting and finance departments, a critical component in implementing these changes. With this newfound knowledge and understanding, participants will be well-equipped to apply CECL confidently and effectively in their professional roles.
Highlights
Navigating the standard. Assets measured at amortized cost. Initial measurement. Judgments for estimation. Weighted-average remaining maturity method. Off-balance-sheet credit exposures. Subsequent measurement. Collateral-dependent financial assets.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Define CECL. Explain the differences between CECL and current GAAP. Describe various methods for applying CECL. Apply CECL to loans. Apply CECL to trade receivables. Apply the proper prestation. Explain the general nature of required disclosures.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Jeff Sailor, Western CPE
Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software.
Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights with humor in high-energy presentations. He’s also adept at presenting complex topics in a very practical, easy-to-understand manner, thus earning him rave reviews for more than 20 years. Jeff currently presents seminars, webcasts, and in-house instruction for Western CPE. He’s also a featured speaker at national conferences as well as at state and regional meetings.
For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. He also served on the Resource Committee for the Private Company Financial Reporting Committee (PCFRC). Jeff has spoken at two NASBA national conferences on how to make education more engaging for practitioners.
Non-Member Price $56.00
Member Price $49.00