×
Publications
AICPA Audit and Accounting Guide: Credit Losses
Offering the latest guidance on credit loss, this publication addresses accounting implementation issues, and offers in-depth coverage of audit considerations from risk assessment and planning to execution of the audit.

If you are purchasing a product in one of the following formats, please check the system requirements below:

Online Professional Library
The AICPA Online Professional Library will operate in a variety of configurations, but only the configuration described below is supported by our technicians:

  • Windows 7+ (Latest Microsoft Edge, Internet Explorer, Firefox or Chrome)

eBooks

Minimum system requirements are:

  • Internet access
  • Adobe ID
  • Adobe® Digital Editions (ADE) is a free program that lets you read eBooks on a PC, Mac, and any supported smartphone or tablet. You MUST download and login to ADE in order to view an AICPA eBook. AICPA eBooks are best viewed when using ADE 3 for PC and ADE 4 for Mac.
  • For mobile access to eBooks, download the free Bluefire Reader app for Apple (iOS) and Android phones and tablets.

IMPORTANT:

  • eBooks are intended for a single user only.
  • An eBook is a downloadable file that will be accessible immediately after completing your purchase. Access to the download link expires 180 days from the purchase date so you must download the file before this time elapses.
  • This product is refundable within 10 days of your purchase date.

Read the AICPA eBook Tutorial and see our FAQ for more information.

PDF

  • Adobe® Acrobat® Reader 8 or higher
Product details

Understand the latest guidance on credit loss.

Who Will Benefit?

  • Management accounting and financial professionals
  • Auditors who need to understand the latest guidance on credit loss with a focus on Lending Institutions and Insurance Companies.

Key Topics

  • Key accounting provisions of FASB ASC 326.
  • Key accounting implementation issues and interpretations identified by the Credit Loss Task Force.
  • Comprehensive coverage of audit considerations specific to the allowance for credit loss transactions, including controls, audit risk, and management estimates. Content for audit considerations developed by task force comprised of highly experienced industry experts.

On June 16, 2016, FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, to amend guidance on reporting credit losses for financial assets held at amortized costs basis and available-for-sale debt securities and create FASB Accounting Standards Codification (ASC) 326, Financial Instruments - Credit Losses.

Upon the effective date of this ASU, the incurred loss impairment methodology in current GAAP is replaced with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates.

In response to the issuance of FASB ASC 326, the AICPA organized the Credit Loss Task Force to identify and address accounting implementation issues related to this standard.

In light of the new accounting requirements, this publication will address accounting implementation issues identified by the task force as well as provide in-depth coverage of audit considerations from risk assessment and planning to execution of the audit.

Note: Accounting and auditing content will be updated on a regular basis in future editions of this guide as taskforces finalize each implementation issue.

This guidance has been developed and reviewed by leading experts across the profession to provide the most comprehensive and reliable implementation guidance. Accounting guidance has been reviewed by the AICPA’s Financial Reporting Executive Committee (FinREC), or one of its sub-committees, and, as always, auditing guidance in AICPA audit and accounting guides are issued under the authority of the Auditing Standards Board (ASB) and therefore considered authoritative guidance.

Ratings and reviews
Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$169.00
Member Quantity:
Nonmember Quantity:
Quantity:
Estimated total:
$169.00
Add to cart
Back to Top