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FASB discusses improvements to guidance on credit losses

  • FASB meeting Image

Nov 09, 2018

At its November 7, 2018, meeting, the FASB discussed implementation issues addressed at the November 1, 2018, meeting of its transition resource group (TRG) on credit losses.

The Board made ten­ta­tive de­ci­sions related to (1) recoveries; (2) negative allowances; (3) vintage disclosure of gross write-offs, gross recoveries, and revolving loans; (4) contractual extensions; (5) discounting cash flows when a method other than a discounted cash flow method is used; and (6) its cost-benefit analysis. In ad­di­tion, the Board di­rected its staff to begin draft­ing a proposed ASU for a vote by written ballot.

For more in­for­ma­tion, see De­loitte’s TRG Snapshot as well as the meeting minutes on the FASB’s Web site.

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