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Jan 31, 2017

8 tips for the CECL transition

By Lauren Smith, CPA https://ssctechblog.files.wordpress.com/2017/01/istock_000056891012_xxxlarge.jpg?w=1462 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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