FASB Proposes Taxonomy Implementation Guide on CECL Disclosures
FASB issued a proposed GAAP Financial Reporting Taxonomy Implementation Guide on financing receivables and current expected credit loss (CECL) disclosures, the comment period for which ends on November 05, 2018. FASB also proposed taxonomy improvements for Proposed Accounting Standards Update—Debt (Topic 470) on simplifying the classification of debt in a classified balance sheet (current versus non-current). The comment period for the proposed Taxonomy improvements for classification of debt ends on November 12, 2018.
The proposed guide (Taxonomy Version 2019) on financing receivables and CECL disclosures provides examples to help users of the taxonomy understand how the modeling for disclosures related to financing receivables and credit losses is structured within the taxonomy. The purpose of the Taxonomy Implementation Guide is to demonstrate the dimensional modeling for disclosures related to financing receivables. These examples are not intended to encompass all of the potential modeling configurations or to dictate the appearance and structure of an entity’s extension taxonomy. However, the reported line items within the examples do not include all reporting requirements and represent only partial disclosures and statements for illustration purposes. Changes from the 2017 version of this Implementation Guide have been included in Appendix A to the Guide.
Related Links
- Proposed Taxonomy Implementing for CECL Disclosures (PDF)
- Proposed Taxonomy Improvements on Topic 470 (PDF)
Comment Due Date: November 05, 2018 (CECL); November 12, 2018 (Topic 470)
Keywords: Americas, US, Accounting, Banking, CECL, Disclosures, Taxonomy, Topic 470, Accounting Standards Update, FASB
Related Insights
|
News
BCBS Finds Liquidity Risk Management Principles Remain Fit for PurposeBCBS completed a review of its 2008 Principles for sound liquidity risk management and supervision. The review confirmed that the principles remain fit for purpose.
January 17, 2019
WebPage
Regulatory News
|
|
News
HKMA Urges Local Banks to Start Working on FRTB ImplementationHKMA announced that it plans to issue a consultation paper on the new market risk standard in the second quarter of 2019.
January 17, 2019
WebPage
Regulatory News
|
|
News
EBA Finalizes Guidelines for High-Risk Exposures Under CRREBA published the final guidelines on the specification of types of exposures to be associated with high risk under the Capital Requirements Regulation (CRR). The guidelines are intended to facilitate a higher degree of comparability in terms of the current practices in identifying high-risk exposures.
January 17, 2019
WebPage
Regulatory News
|
|
News
MAS Guidelines on Risk Mitigation Requirements for OTC DerivativesMAS published guidelines on risk mitigation requirements for non-centrally cleared over-the-counter (OTC) derivatives contracts.
January 17, 2019
WebPage
Regulatory News
|
|
News
BoE Publishes the Schedule for Statistical Reporting for 2019BoE published the updated schedule for statistical reporting for 2019. The reporting institutions use the online statistical data application (OSCA) to submit statistical data to BoE.
January 16, 2019
WebPage
Regulatory News
|
|
News
PRA Delays Final Direction on Reporting of Private SecuritizationsPRA and FCA have delayed the issuance of final direction, including the final template, on reporting of private securitizations, from January 15, 2019 to the end of January 2019.
January 15, 2019
WebPage
Regulatory News
|
|
News
SNB Updates Forms on Supervisory Reporting for BanksSNB published Version 1.7 of reporting forms (AUR_U, AUR_UEA, AUR_UES, AURH_U, AUR_K, AUR_KEA, and AURH_K) and the related documentation for supervisory reporting on an individual and consolidated basis.
January 15, 2019
WebPage
Regulatory News
|
|
News
BCBS Finalizes Market Risk Capital Framework and Work Program for 2019BCBS published the final framework for market risk capital requirements and its work program for 2019. Also published was an explanatory note to provide a non-technical description of the overall market risk framework, the changes that have been incorporated into in this version of the framework and impact of the framework.
January 14, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: First Update for January 2019EBA published answers to 13 questions under the Single Rulebook question and answer (Q&A) updates for this week.
January 11, 2019
WebPage
Regulatory News
|
|
News
PRA Proposes to Amend Supervisory Statement on Credit Risk MitigationPRA published the consultation paper CP1/19 that is proposing changes to the supervisory statement (SS17/13) on credit risk mitigation.
January 10, 2019
WebPage
Regulatory News
|
