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SEC aligns Staff Accounting Bulletin series with ASC 326

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Nov 22, 2019

The SEC has issued Staff Accounting Bulletin (SAB) No. 119, which aligns certain portions of its interpretive guidance with FASB Accounting Standards Codification (ASC) Topic 326, “Financial Instruments — Credit Losses.”

Specifically, SAB 119 adds Section M, “Financial Reporting Release No. 28 — Accounting for Loan Losses by Registrants Engaged in Lending Activities Subject to FASB ASC Topic 326,” to SAB Topic 6, “Interpretations of Accounting Series Releases and Financial Reporting Releases.”

For more in­for­ma­tion, see the SAB 119 page on the SEC’s Web site.

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