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Jan 31, 2017

8 tips for the CECL transition

By Lauren Smith, CPA Industry experts are calling CECL one of the most significant changes for financial institutions. Some have even gone so far as to hail CECL the “biggest change – ever – to bank accounting.” Nonetheless, the Financial Accounting Standards Board (FASB) and banking regulators assert that institutions will be able to leverage current risk management and reserving practices as a basis ...

Dec 28, 2016

Making Year-End Accounting Procedures More Manageable

By: Qualitech It’s a good time to look over year-end procedures for the accounting system you use. You may  need a refresher since you likely haven’t thought of these procedures in a while. It is also not unusual for accounting software packages to change their required year-end procedures or have a year-end software update. Looking into these possibilities now can save you a headache down the road. Such basic year-end activities include: Year-end reporting - Often, year-end reports ...

Oct 4, 2016

CECL is here: Are you ready?

By: Lauren Smith The recent AICPA conference highlighted the latest developments in the banking industry, including the Current Expected Credit Loss (CECL). At the conference, John Lankenau from SS&C Primatics discussed analytics that can be used to explain volatility in the CECL estimate and answered questions from stakeholders. The session was well received by the several hundred attendees. Watch a video recap. The conference, which was attended by more than 900 professionals, ...

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