This Roadmap provides Deloitte’s insights into and interpretations of the guidance in ASU 2016-13 (codified as ASC 326), Measurement of Credit Losses on Financial Instruments. The ASU adds to U.S. GAAP an impairment model known as the current expected credit loss (CECL) model, which is based on expected losses rather than incurred losses.
The 2022 update of this Roadmap contains new discussions related to ASU 2016-13, including the highlights of the FASB’s recently issued ASU 2022-02 that eliminates the accounting guidance on troubled debt restructurings for creditors and amends the guidance on vintage disclosures.
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