• Presenter: Robert "Robby" Sundberg and Caroline Willet, Embark

• Topic: Current Expected Credit Losses

• Program Description:

  ASU 2016-13 introduced a new impairment model for certain financial assets, known as the current expected credit loss (“CECL”) model. The CECL model is expected to impact how companies across a variety of industries evaluate their financial assets for credit losses. This program will introduce the CECL impairment model introduced by ASU 2016-13 and will focus on certain accounting and financial reporting considerations associated with the CECL model including identification of in-scope financial assets, management’s considerations, and various application methodologies.  The session will also include discussion of how and when credit losses are recorded under the CECL model. Finally, this session will highlight the broad financial statement impact of the new standard, including a discussion of required disclosures.  Presented by the team at Embark. 

• Format: Online Group
• CPE Credit: 1 hour (sign in begins 11:45, speaker at noon)
• Field of Study: Accounting - Technical
• Program Knowledge Level: Basic
• Prerequisites: None
  
  
• Learning Objectives:
  • Recognize the current expected credit loss (“CECL”) impairment model introduced by ASU 2016-13
  • Identify the financial assets that are evaluated and measured for impairment using the CECL model
  • Identify management considerations and some of the methodologies for estimating credit losses under the CECL model
  • Identify how and when credit losses should be recorded under the CECL model
  • Describe broad financial statemetn impact of the new standard, including expanded required disclosures
    
    
• Speaker Bios (full bio's in the Event>Documents section of website):
  • Robby Sundberg earned his Bachelor's and Master's in Accounting from the University of Texas as Austin.  He began his career at Deloitte in Dallas, moved to Verizon for three years and was most recently at Toyota Financial Services before joining Embark.  
  • Caroline Willet completed her BBA in Accounting from SMU and then got a Master’s in Accounting from The University of Texas. Caroline began her career at PwC in Dallas in the private company services audit group serving clients primarily within the consumer products and technology Industries.  She joined Embark to be more hands on in helping clients succeed.
    
    

• Refund Policy: Full refund by original method of payment if cancellation received by 4pm on the Friday preceding the event. 

CPE Credits are based on a 50-minute hour. State boards of accounting have final authority on the acceptance of individual courses for CPE credit. Attendee accepts responsibility to determine if course meets acceptable guidelines set forth by their reporting authority. Complaints regarding any CPE presentation should be directed to [email protected].