Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Welcome
Go
Free Newsletter Sign Up

Loan Loss Standard: Airing Set for What’s Working, What Isn’t

Nov. 4, 2020, 7:46 PM

U.S. accounting rulemakers are planning a December meeting to discuss “the good, the bad, and the ugly” about the biggest change to bank accounting in decades, the board’s technical director said Wednesday.

Financial Accounting Standards Board research staff have been monitoring earnings calls and reviewing company financial statements to understand what’s working and what isn’t on the current expected credit loss (CECL) accounting standard, FASB technical director Hillary Salo told a Financial Executives International conference.

“We’re bringing it all to the board,” Salo said. “We’re going to ask the board for direction.”

  • The new accounting standard, which most ...