Herbein Q+A: Current Expected Credit Loss

October 13, 2023
In the ever-evolving landscape of financial reporting, the Financial Accounting Standards Board (FASB) introduced ASU 2016-13, titled 'Measurement of Credit Losses on Financial Instruments'. This significant update replaces the previous incurred loss model with the more forward-looking Current Expected Credit Losses (CECL) model.

Our latest Herbein Q+A on is on ASU 2016-13 Current Expected Credit Loss. Herbein's Kaitlyn Schappell reviews commonly asked questions we receive on CECL. In this video, we will address the following questions:
  • What is ASU 2016-13: Current Expected Credit Loss?
  • Who will be affected by CECL?
  • Why did FASB issue this new accounting standard?

For additional information contact the author at keschappell@herbein.com.

Our Herbein Q&A video series answers the top questions we get on a wide range of business topics. Have a question? Send us your question today - email us at info@herbein.com.