{"id":1616,"date":"2019-11-22T12:05:44","date_gmt":"2019-11-22T17:05:44","guid":{"rendered":"https:\/\/seci.wpenginepowered.com\/?p=1616"},"modified":"2019-11-22T12:05:44","modified_gmt":"2019-11-22T17:05:44","slug":"a-new-staff-accounting-bulletin-for-cecl","status":"publish","type":"post","link":"https:\/\/seciblog.pli.edu\/index.php\/a-new-staff-accounting-bulletin-for-cecl\/","title":{"rendered":"A New Staff Accounting Bulletin for CECL"},"content":{"rendered":"<p>On November 19, 2019 the SEC issued <a href=\"https:\/\/www.sec.gov\/oca\/staff-accounting-bulletin-119\">SAB 119<\/a> to align its guidance with the FASB\u2019s Current Expected Credit Loss Standard, ASU 2016-13,\u00a0<u>Financial Instruments \u2013 Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments<\/u>.\u00a0 The new SAB \u00a0updates existing guidance dealing with what the staff expects of companies as they develop methodologies and supporting documentation for measuring credit losses.<\/p>\n<p>The <a href=\"https:\/\/www.sec.gov\/oca\/staff-accounting-bulletin-119\">SAB addresses<\/a> areas that will sound very familiar to professionals who have been dealing with the new, subjective estimates required to implement the new standard, including:<\/p>\n<ol>\n<li>Measuring current expected credit losses<\/li>\n<\/ol>\n<ol start=\"2\">\n<li>Development, governance, and documentation of a systematic methodology<\/li>\n<\/ol>\n<ol start=\"3\">\n<li>Documenting the results of a systematic methodology<\/li>\n<\/ol>\n<ol start=\"4\">\n<li>Validating a systematic methodology<\/li>\n<\/ol>\n<p>The SAB will be most relevant for financial institutions but could be helpful for all entities.\u00a0 As of the date of this writing there is one formal detail still in process for the SAB, publication in the Federal Register.<\/p>\n<p>As always, your thoughts and comments are welcome!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On November 19, 2019 the SEC issued SAB 119 to align its guidance with the FASB\u2019s Current Expected Credit Loss Standard, ASU 2016-13,\u00a0Financial Instruments \u2013 Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.\u00a0 The new SAB \u00a0updates existing guidance dealing with what the staff expects of companies as they develop methodologies and &hellip; <a href=\"https:\/\/seciblog.pli.edu\/index.php\/a-new-staff-accounting-bulletin-for-cecl\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">A New Staff Accounting Bulletin for CECL<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[242],"tags":[],"coauthors":[154],"class_list":["post-1616","post","type-post","status-publish","format-standard","hentry","category-reporting"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=1616"}],"version-history":[{"count":0,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1616\/revisions"}],"wp:attachment":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=1616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=1616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=1616"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/coauthors?post=1616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}