Allowance for Credit Losses

By Jeff Skaggs, Audit Principal
December 2013

In July 2010, the Financial Accounting Standards Board (FASB) issued new guidance requiring significant additional financial statement disclosures relating to the credit quality of financing receivables and the allowance for credit losses.  The new guidance was issued in Accounting Standards Update (ASU) 2010-20.

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New Disclosure Requirements for Receivables and the Allowance for Credit Losses