Videos What You Need to Know About CECL and the New Credit Losses Standard

Preparing for Change

  • Share:

With the application date for the new Current Expected Credit Loss (CECL) methodology quickly approaching, Clearwater’s investment accounting experts want to help you better understand how this change will impact accounting.

The Accounting Standards Update 2016-13, Financial Instruments – Credit Losses, will introduce major adjustments to the way credit losses are accounted for. Investment accountants are preparing for several adjustments to their reporting regarding held-to-maturity (HTM) and available-for-sale (AFS) securities.

Included in the update is a new expected credit loss accounting standard that introduces the Current Expected Credit Loss (CECL) model effective for SEC filers for fiscal years beginning after December 15, 2019.

Clearwater Product Owners Sam Hobbs and Rhead Hatch discuss the details accounting teams need to know about the update, the operational challenges that may come from it, and tips for what you can do now to prepare.

Learning Objectives:

  • Learn how CECL could impact your accounting and investment teams
  • Discuss best strategies for applying this new guidance
  • Understand the bigger picture of how upcoming investment accounting regulations may affect the insurance industry

Featured Presenters

Sam Hobbs, CPA

Product Lead, Clearwater Analytics

Rhead Hatch, CPA

Product Owner, Accounting, Clearwater Analytics