FASB Releases Financial Instruments—Credit Losses Standard

Posted on June 20, 2016

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The Financial Accounting Standards Board issued Accounting Standards Update 2016-13— Financial Instruments—Credit Losses. The standard marks the end of accounting for credit losses using the incurred loss model and replaces it with the current expected credit loss (CECL) model. The AICPA’s Financial Reporting Center Financial Instruments webpage contains up-to-date information on the new standard.

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