This Roadmap provides Deloitte’s insights into and interpretations of the guidance in FASB Accounting Standards Update (ASU) No. 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 2021 update of this Roadmap contains new discussions related to ASU 2016-13, including the highlights of the recently issued proposed ASU on troubled debt restructurings and vintage disclosures. The updated Roadmap also includes On the Radar, a new section (also available as a stand-alone publication) that provides a high-level synopsis of accounting and financial reporting topics related to ASU 2016-13.
The Roadmap is available on the Deloitte Accounting Research Tool Web site.