BREAKING NEWS

Announcing Our Newest Partner

BMF welcomes with pride and purpose, our newest partner, Marie Lenarduzzi!

In 2016, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance to estimate credit losses on financial assets, with staggered effective dates commencing in January 2020. While banks and other traditional financial institutions will be most affected by the FASB’s new credit impairment model for financial assets based on current expected credit loss (“CECL”), all entities with balances due (e.g., trade receivables) or that have an off-balance-sheet credit exposure (e.g., financial guarantees) will be impacted. These include companies in the consumer and retail industry, manufacturing entities and other non-financial institutions.

We have summarized the key aspects of the CECL standard typically applicable for non-financial institutions into three separate areas:

  1. Background / Components
  2. What is/not included within the scope of CECL
  3. General questions
Download the full CECL publication DOWNLOAD

Current Expected Credit Loss for Non-Financial Institutions