United States

Applying the FASB Proposed Model on Financial Asset Credit Losses

Feb 28, 2013
From the Financial Reporting View and the IFRS Institute

This edition of Issues In-Depth highlights some of the potential conceptual and application issues and provides more detailed information about the FASB's recently issued proposed Accounting Standards Update (ASU) that would change the way entities recognize credit impairment on financial assets. The proposed ASU comprises a subset of the FASB's overall financial instruments project, which the Board decided to divide into three separate projects. All entities that hold financial assets, not just those in financial services, will need to carefully analyze the proposed ASU and consider its potential effect based on their own specific facts and circumstances. The comment period ends April 30, 2013.

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