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Apr 26, 2018

Real estate lease holders should get a jump on Straight-Line Rent Reporting

The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) to improve financial reporting on leasing transactions. The new standard comes into effect on December 15, 2018 for public companies. The ASU impacts all companies that lease real estate assets, including leases for real property that are longer than 12 months.

May 15, 2017

A successful CECL implementation begins with a holistic approach

By Lauren Smith The Current Expected Credit Loss accounting standard (CECL) replaces the incurred loss model with a lifetime expected credit loss estimate, which will result in significant changes to financial institutions’ reserving process. Many industry experts consider CECL to be the biggest change to bank accounting ever. Is your institution prepared for the change, or do your current systems and processes fall short? A successful transition will include a holistic approach, but how ...

Nov 3, 2016

The CECL Conundrum for Lenders: Which Loss Forecasting Methodology to Use?

By Regan Camp, Principal Consultant, SS&C Primatics The Financial Accounting Standards Board (FASB) issued the final Current Expected Credit Loss standard, or (“CECL”) on June 16, 2016. Many lending institutions are likely to experience a “shock to the system” because of significant changes to the end-to-end reserving process for financial instruments measured at amortized cost. Unlike the incurred loss model, which is based primarily on historical loss information, CECL requires lenders ...

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