Financial Instruments: The Way Forward — Discussions on ASC 326 and CECL’s Impact on Corporations

Learn more about CECL Credit Losses

ASC 326 on credit losses will usher in a new era of credit measurement, transitioning from an incurred to an expected credit loss model (CECL). This accounting change will require estimating expected credit losses, reporting those losses upfront, and adjusting them over the life of the loan.

Across industries, many publicly traded companies that hold financial assets such as trade and loan receivables will likely see an impact. They will need to assess and implement the standard, coordinate with auditors, draft disclosures, revise financial credit loss models, and onboard new technologies. Companies are also responding to the new hedge accounting standard ASC 815, which promises to simplify accounting and refine corporate risk strategy.

View discussions below from Financial Instruments: The Way Forward, an event hosted by Bloomberg Tax and Deloitte. Chief financial officers, controllers, financial accountants, auditors, analysts, and other accounting professionals convened to discuss how corporations should respond to the new ASC 326 standard on credit losses.

CECL Disclosure Challenges

Troy Vollertsen, Deloitte Audit and Assurance Partner, discusses the challenges for companies regarding CECL disclosures.

CECL’s Impact Beyond Banking

Troy Vollertsen, Deloitte Audit and Assurance Partner, discusses CECL’s impact on non-financial entities.

How Companies Should Work with Their Auditors

Troy Vollertsen, Deloitte Audit and Assurance Partner, covers the importance of collaboration with auditors prior to adoption on CECL.

Top CECL Considerations for Corporate Executives

Troy Vollertsen, Deloitte Audit and Assurance Partner, provides insights on what corporate executives should consider when complying with CECL.

Why Consider Hedge Accounting?

Jon Howard, Deloitte Audit and Assurance Partner, offers reasons on why companies should consider hedge accounting.

Why Companies are Adopting Hedge Accounting

Jon Howard, Deloitte Audit and Assurance Partner, discusses the drivers that are pushing companies to adopt hedge accounting.

The Scope of CECL

Harold Schroeder, FASB Board Member, breaks down the scope of CECL.

Congressional Oversight of CECL

Blaine Luetkemeyer, Congressman and Member of the House Committee of Financial Services, discusses why CECL deserves congressional insight.

Hedge Accounting Considerations and Beyond

Larry Lu, director of a global retail company, shares insights on why companies should consider hedge accounting and accounting considerations beyond hedge accounting.

Disclosures Under CECL

Masha Muzyka, Senior Director of Moody Analytics, provides insights on SAB 74 CECL disclosure status, if CECL changes will impact corporate valuations, and recommendations for improved CECL disclosures.

Top ABA Concerns and Considerations on CECL

Michael Gullette, SVP of Tax & Accounting at the American Bankers Association, covers the top concerns and considerations of ABA as it relates to CECL, and offers thoughts on CECL vs. incurred loss.

CECL Model Changes, Development, and Measurement

Michael Jacobs, Lead Quantitative Analytics & Modeling Expert at PNC, discusses model changes for CECL, considerations for model development and methods of measuring CECL, and how communication and collaboration between business units is key to tackling modeling.

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