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Opportunity to Voice Concerns to FASB in Effort to Improve Proposal on Credit Losses

Mar
18
Opportunity to Voice Concerns to FASB in Effort to Improve Proposal on Credit Losses

Credit unions in Missouri are urged to share their input with the Credit Union National Association (CUNA) as it develops a comment letter to the Financial Accounting Standards Board (FASB) about its proposal regarding financial reporting of expected credit losses on loans and other financial assets.

The proposed model would utilize a single “expected loss” measurement for the recognition of credit losses. This would replace the multiple existing impairment models in U.S. generally accepted accounting principles (GAAP) that primarily use an “incurred loss” approach.

Posted By Sharon Bahr read more
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