Current Expected Credit Loss Standard Toolkit
The Current Expected Credit Loss standard (Accounting Standards Codification 326) or intimately known as CECL, has been a hot topic in the banking industry since the Financial Accounting Standards Board’s first CECL exposure draft in 2012. The CECL standard was issued in June 2016 and in response to the impending changes, Baker Newman Noyes (BNN) has created a CECL Task Force to address the challenges and questions surrounding the new standard, particularly as it relates to loans and the allowance for loan losses. Our team offers a suite of services and tools to guide clients through the CECL accounting change. In addition, we have created an easy-to-use CECL Toolkit to help banks prepare for the transition.
Baker Newman Noyes CECL Toolkit
Download our complimentary Toolkit to help get your bank on track for a successful CECL implementation. You’ll also receive updates and other helpful articles from our banking industry practice.
If you would like more information or need assistance with CECL, contact our CECL Task Force or your BNN banking contact today.
Stay tuned for our upcoming “Issues of Interest” newsletter as we will be featuring CECL in every issue between now and CECL’s implementation date. Additionally we will keep our toolkit up-to-date and will be adding to it between now and implementation.
Disclaimer of Liability: This publication is intended to provide general information to our clients and friends. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.