A Practical Guide to Meeting New FASB Requirements for ALLL
09.23.2015 - 09.23.2015 (cfo)
1:00 p.m. CST Online via Adobe Connect
Join Ian Dunn from Visible Equity and CFO Council Member Justin Mouzoukas for a discussion on CECL and some tips on using Thomson Reuters tools. Thomson Reuters is a free member benefit offered to CFO Council members.
The Financial Accounting Standards Board (FASB) is proposing sweeping changes to how financial institutions account for their allowance for loan losses. This accounting standards update is commonly referred to as “CECL”, or a Current Expected Credit Loss methodology.
In this presentation we will provide practical guidance and examples in how to best meet these new standards including a discussion of: 1) recognizing and measuring expected credit losses, 2) calculating probability of default and incorporating “reasonable and supportable” forecasts into your methodology, 3) main CECL methods, including discounted cash flow, probability of default, and loss rate, 4) required disclosures, and 5) making a smooth transition to CECL.
1. Gain a solid foundation in the recognition and measurement of expected credit losses.
2. Understand how certain analytical building blocks, such as probability of default and forecasting, can be successfully incorporated into your allowance methodology.
3. Understand the three main CECL Methods, including discounted cash flow, probability of default, and loss rate.
4. Understand the disclosures required under the new accounting standard.
5. How to successfully make a smooth transition to a CECL methodology.
Ian M. Dunn, EVP of Product Management, Visible Equity, Salt Lake City, UT
Ian is the CEO of Visible Equity. He earned his MBA from the UCLA Anderson School of Management and holds an undergraduate degree in Engineering. He is also a graduate of the Pacific Coast Graduate School of Banking. Ian has spoken at several conferences, covering such topics as Fair Lending, Loan Portfolio Analytics, FASB Changes, Loan Application Data, and many others.
Ian enjoys skiing, outdoor activities, and spending time with his family. He is a former collegiate soccer player and currently coaches a youth team.
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