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    New CECL Approach to Determine Allowance for Loan & Leases

    $219.00
    *
    This webinar summarizes the new accounting standard (ASU 2016-13, Financial Instruments – Credit Losses) for the determination of the Allowance for Loan & Leases (ALLL) – the new standard that replaces the incurred-loss model currently in use. This carefully presented overview should take away the mystique and in some cases the fear of the estimation (forecasting) requirements now required under CECL.

    Overview 

    This webinar covers the new way to account for estimated losses relating to loans, accounts receivable and lease receivables. It also briefly covers H-T-M debt securities, AFS debt securities, commitments that are not unconditionally cancellable, and purchased credit-deteriorated assets

    The focus of this session is the new balance sheet approach which explains how to determine the ALLL balance based on predictions or forecasts of credit losses over the life of amortizable financial assets.

    The radical change from the “old” incurred loss method requires this course to briefly explain the incurred loss method and how it should currently work. This is essential since the data currently in use will be very helpful for complying with the new current expected credit loss model.

    In addition, the new approach is not effective until calendar year 2020 for SEC filers and calendar year 2021 for private companies. A review of accounting standards and updates will refresh attendees about the incurred loss model and will set the foundation for the new approach. 

    We will emphasize the need to put loan data into pools of assets with similar risks and to use qualitative factors (“Q” factors) to support estimates of credit losses. This webinar will explain why estimating credit losses is highly judgmental. We will also “hone in” on quantitative and qualitative factors, in addition to other factors relevant to expected collectability of cash

    Covered Topics

    • Discussion of the new accounting model and its dependence on: Past events; Current conditions; and, Reasonable & supportable forecasts
    • Review of ASC 450-20 (SFAS No. 5) and ASU 310-10-35 (SFAS No. 114) and FIL 105-2006 
    • Exploration of various techniques, including: Discounted cash flows; Loss-rate; Roll rate; Probability of default; and, Aging of accounts
    • Explanation of several estimation approaches
    • Note the effective dates for public and private entities selected by the FASB to show the “staggered implementation” approach

    Who Should Attend? 

    This is a seminar that is valuable for all accountants, auditors, and others who must grapple with the new significantly different approach to arriving at a more reasonably accurate balance in the contra allowance account needed to reduce all long term receivables to net realizable value. 

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    Overview 

    This webinar covers the new way to account for estimated losses relating to loans, accounts receivable and lease receivables. It also briefly covers H-T-M debt securities, AFS debt securities, commitments that are not unconditionally cancellable, and purchased credit-deteriorated assets

    The focus of this session is the new balance sheet approach which explains how to determine the ALLL balance based on predictions or forecasts of credit losses over the life of amortizable financial assets.

    The radical change from the “old” incurred loss method requires this course to briefly explain the incurred loss method and how it should currently work. This is essential since the data currently in use will be very helpful for complying with the new current expected credit loss model.

    In addition, the new approach is not effective until calendar year 2020 for SEC filers and calendar year 2021 for private companies. A review of accounting standards and updates will refresh attendees about the incurred loss model and will set the foundation for the new approach. 

    We will emphasize the need to put loan data into pools of assets with similar risks and to use qualitative factors (“Q” factors) to support estimates of credit losses. This webinar will explain why estimating credit losses is highly judgmental. We will also “hone in” on quantitative and qualitative factors, in addition to other factors relevant to expected collectability of cash

    Covered Topics

    • Discussion of the new accounting model and its dependence on: Past events; Current conditions; and, Reasonable & supportable forecasts
    • Review of ASC 450-20 (SFAS No. 5) and ASU 310-10-35 (SFAS No. 114) and FIL 105-2006 
    • Exploration of various techniques, including: Discounted cash flows; Loss-rate; Roll rate; Probability of default; and, Aging of accounts
    • Explanation of several estimation approaches
    • Note the effective dates for public and private entities selected by the FASB to show the “staggered implementation” approach

    Who Should Attend? 

    This is a seminar that is valuable for all accountants, auditors, and others who must grapple with the new significantly different approach to arriving at a more reasonably accurate balance in the contra allowance account needed to reduce all long term receivables to net realizable value. 

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    Presenter:

    Paul J. Sanchez

    Paul J. Sanchez, CPA, CBA, CFSA, CGMA conducts a small CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University - C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors. He also was on the technical staff of the Auditing Standards and Examinations Divisions of the AICPA. He practiced public accounting in the New York office of Deloitte where he also was a firm recruiter and in-house professional development instructor. He was an owner and auditing and accounting seminar leader for the Person/Wolinsky CPA Review Courses, a company that prepared candidates to pass the Uniform CPA Examination. He is a frequent lecturer and seminar leader for accounting, auditing, banking, risk assessment and other professional presentations. He is the author of the textbook, “Accounting Basics for Community Financial Institutions” (Financial Managers Society, 2 nd edition, Chicago, 2009) and the “Ideas an Analysis Letter: The Sanchez Take” (see www.sanchez-psa.com). As a contributing author, his chapter on ‘An Auditor’s Approach to Risk-Based Auditing: What to Audit and When,’ is included in the textbook, “Effective Auditing for Corporates: Key Developments in Practice and Procedures,” (Bloomsbury Information, Ltd, London, 2012).