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FASB makes narrow-scope improvements to credit losses standard

  • FASB document Image

Nov 27, 2019

The FASB has issued Accounting Standards Update (ASU) No. 2019-11, “Codification Improvements to Topic 326, Financial Instruments — Credit Losses.”

The ASU amends certain aspects of the FASB’s guidance on credit losses and clarifies how entities should report “expected recoveries,” which can occur after an entity has written off a portion, or all, of a financial asset and then later believes some or all of the amount will be recovered. In addition, the ASU “reinforces existing guidance that prohibits organizations from recording negative allowances for available-for-sale debt securities.”

For more information, see the press release and ASU on the FASB’s Web site.

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