United States

Defining Issues: FASB Proposes Model for Recognizing Credit Losses on Financial Assets

Jan 04, 2013
From the Financial Reporting View and the IFRS Institute

The FASB recently issued a proposed Accounting Standards Update that would change the way entities recognize credit impairment on financial assets. The FASB's proposed impairment model is intended to result in more timely recognition of credit losses and provide additional transparency about credit risk. It is based on a single measurement objective that would reflect an entity's current estimate of contractual cash flows that are not expected to be collected. The comment period ends April 30, 2013.

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