Topic 326 Financial Instruments—Credit Losses

E544872

FASB Accounting Standards Codification topic U.S. GAAP accounting standard

Topic 326 Financial Instruments—Credit Losses is a U.S. GAAP accounting standard that establishes the current expected credit loss (CECL) model for measuring and recognizing credit losses on financial assets.

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Statements (35)

Predicate	Object
instanceOf	FASB Accounting Standards Codification topic ⓘ U.S. GAAP accounting standard ⓘ
abbreviation	CECL ⓘ
allows	use of various estimation methods for expected credit losses ⓘ
appliesTo	certain off-balance-sheet credit exposures ⓘ financial assets measured at amortized cost ⓘ financial assets originated by an entity ⓘ financial assets purchased by an entity ⓘ financial guarantee contracts not accounted for as insurance ⓘ held-to-maturity debt securities ⓘ loan commitments ⓘ net investments in leases ⓘ reinsurance receivables ⓘ trade receivables ⓘ
codifiedBy	Accounting Standards Update 2016-13 NERFINISHED ⓘ
effectiveFor	nonpublic entities ⓘ public business entities ⓘ
establishesModel	current expected credit loss model ⓘ
governs	measurement of credit losses on financial assets ⓘ recognition of credit losses on financial assets ⓘ
hasFullName	Financial Instruments—Credit Losses NERFINISHED ⓘ
issuedBy	Financial Accounting Standards Board NERFINISHED ⓘ
objective	to provide more timely recognition of credit losses ⓘ
partOf	FASB Accounting Standards Codification NERFINISHED ⓘ
relatedTo	ASC 310 Receivables NERFINISHED ⓘ ASC 320 Investments—Debt Securities NERFINISHED ⓘ ASC 825 Financial Instruments NERFINISHED ⓘ
replaces	incurred loss model for many financial assets ⓘ
requires	allowance for credit losses for assets measured at amortized cost ⓘ consideration of current conditions in estimating credit losses ⓘ consideration of past events in estimating credit losses ⓘ consideration of reasonable and supportable forecasts in estimating credit losses ⓘ lifetime expected credit loss measurement ⓘ recognition of credit losses through an income statement allowance ⓘ
scopeExcludes	available-for-sale debt securities credit loss measurement under separate guidance ⓘ

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FASB Accounting Standards Codification → includesStandard → Topic 326 Financial Instruments—Credit Losses ⓘ