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AICPA releases working drafts on implementation issues related to credit losses

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Aug 13, 2019

On August 13, 2019, the AICPA’s Financial Reporting Executive Committee has released for public comment three working drafts on accounting issues associated with the implementation of FASB Accounting Standards Update No. 2016-13, “Financial Instruments — Credit Losses” (issued in June 2016), which “provides a new current expected credit loss (CECL) model to measure impairment for financial assets (and instruments) measured at amortized cost.”

The working drafts address the following topics:

Comments on the working draft are due by October 15, 2019.

Review the CECL issues page on the AICPA’s website.

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