FASB Proposes Delay in the Implementation Date for CECL for Nonpublic Financial Institutions

The Financial Accounting Standards Board (FASB) recently proposed delaying for one year the implementation date of its accounting standard on Current Expected Credit Losses (CECL).  In the proposal, the implementation date for nonpublic financial institutions would be delayed until years beginning after December 15, 2021, rather than the original date of December 15, 2020.  Additional information on the proposed delay can be viewed at:

https://www.fasb.org/cs/ContentServer?c=FASBContent_C&cid=1176171090132&d=&pagename=FASB%2FFASBContent_C%2FNewsPage

Please contact ABS for any of your needs with the implementation of this accounting standard.

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