Scott is a licensed CPA in Massachusetts and member of the AICPA, with a Bachelor of Science in Accounting from Lehigh University.
One benefit CECL will bring to the accounting space is moving away from the complicated and burdensome accounting for Purchase Credit Impaired (PCI) assets.
The CECL accounting standard affects a broad spectrum of financial institutions, including insurers. Investment portfolios may require updates to allow expected credit loss calculations. Understand the impact of CECL on debt securities, commercial real estate (CRE) loans, and operations, and discover potential solutions.
Join our experts as they discuss the effects of CECL on acquisition accounting, including PCD accounting, and the possible ramifications to the acquisition market.
From an accounting standpoint, the changes in how to account for credit-loss reserves within the banking, insurance, and lending industries stemming from the Financial Accounting Standards Board's (FASB) current expected credit losses (CECL) guidance are significant.