Bank regulators have rolled back the Jan. 1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). The CECL accounting standard focuses on estimated...
Technology continues to initiate change in the role of accountants from number-crunchers to strategic advisors. With client requirements in flux, and with regulations becoming more complex, accountants have an opportunity to wield automation technologies that can free up time for more strategic initiatives. In the...
The Big Four auditing firms — EY, Deloitte, KPMG and PwC — have recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as...
The Financial Accounting Standards Board (FASB), which establishes accounting standards in the U.S., is offering corporates more time to adopt some revised standards, The Wall Street Journal said on Thursday (Oct. 17). According to reports, the FASB approved a proposal earlier this week to give...
March 30, 2020
Bank regulators have rolled back the Jan. 1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). The CECL accounting standard focuses on estimated losses over the life of a loan; the previous standard […]
September 12, 2019
To reflect the upcoming adoption of new accounting standards as well as lower interest rates, U.S. Bancorp cut its growth outlook in the long term. Multiple large U.S. banks have...
