FASB to Review Credit Loss Standard on Wednesday
With the publication of its planned credit loss standard on track for a June release, the Financial Accounting Standards Board (“FASB”) will meet Wednesday to weigh the costs and benefits of the new guidance. The upcoming standard for writing down bad loans and securities is based on guidance from Proposed Accounting Standards Update No. 2012-260, Financial Instruments — Credit Losses (Subtopic 825-15), and is the sole item on this week’s FASB meeting agenda. The accounting board will also decide whether to keep or delay the standard’s 2019 effective date for public entities.