Accounting for Credit Losses – Getting to Know CECL WEBCAST
Overview
The accounting for credit losses has changed significantly as a result of ASU 2016 13. While some practitioners believe this update applies only to financial institutions, it also impacts many other entities with financial assets such as loans and trade receivables. In this course, Jeff explains the concept of CECL and how it is used to account for credit losses. The course focuses primarily on the accounting, while incorporating enough finance concepts to provide context and understanding of the standard. In addition, the course provides practical insight on coordinating the efforts of the accounting staff with those of the finance department. As in all his courses, Jeff incorporates a light and engaging approach to help maintain focus.
Highlights
Overview of ASU 2016 13. Introduction to the CECL model. Differences between CECL and prior GAAP. Methods for applying CECL. Application of CECL to loans. Application of CECL to trade receivables. Presentation requirements. Disclosure requirements. Coordination between accounting and finance functions.
Prerequisites
Basic accounting skills.
Designed For
Accounting and financial professionals seeking to understand the CECL model and its application to credit loss accounting.
Objectives
Define the CECL model. Identify differences between CECL and prior GAAP for credit losses. Recognize methods used to apply CECL. Identify how CECL applies to loans. Identify how CECL applies to trade receivables. Identify proper presentation requirements related to CECL. Recognize the general nature of required disclosures.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Jeff Sailor, Western CPE
Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Upon graduation, he joined the auditing staff at Peat Marwick in Jacksonville, Florida, where he worked on a large number of national accounts. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has also developed unique auditing approaches and auditing software.
Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” Using a variety of creative teaching methods sprinkled with humorous video spoofs, Jeff is able to combine his in-depth accounting insights with humor in high-energy presentations. He’s also adept at presenting complex topics in a very practical, easy-to-understand manner, thus earning him rave reviews for more than 20 years. Jeff currently presents seminars, webcasts, and in-house instruction for Western CPE. He’s also a featured speaker at national conferences as well as at state and regional meetings.
For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. He also served on the Resource Committee for the Private Company Financial Reporting Committee (PCFRC). Jeff has spoken at two NASBA national conferences on how to make education more engaging for practitioners.
Non-Member Price $119.00
Member Price $89.00