CECL: How To Prepare Now

with
Daniel Cotter
Live Session
$149.00
  • December 9, 2021, 2:00 pm   EST
Training Includes:
  • Certificate of Attendance
  • All resources and training materials
  • An on-demand recording will be available after the live presentation.

Financial services expert Dan Cotter will explain the new FASB standard and how it will impact your financial institution. You will learn the steps and timeline for implementation based on your institution’s size.

What You'll Learn

  • What is the history of the changes?
  • Why was CECL adopted?
  • What is the scope of the FASB’s new guidance?
  • What steps must you take now to meet the new effective dates?
  • How should you apply the recognition and measurement guidance?
  • How must you make the new disclosures?
When:
Thursday, December 9, 2021; 2:00 PM Eastern
Scheduled for 60 minutes including question and answer period.

Training Overview

What do you need to do now to prepare for CECL compliance? Learn the specific steps you must take in 2022.

The Financial Accounting Standards Board (FASB) pushed back the effective date of CECL from January 2021 to January 2023 for smaller reporting companies and from January 2022 to January 2023 for nonpublic companies. That’s only one year away—you must take several steps now to prepare.

The Current Expected Credit Losses (“CECL”) methodology substantially changes how financial institutions address credit losses, replacing the incurred loss methodology with an expected loss methodology. These changes significantly affect financial institutions with loans, other receivables, available-for-sale debt securities, and off-balance sheet lending exposures.

  • What is the history of the changes?
  • Why was CECL adopted?
  • What is the scope of the FASB’s new guidance?
  • What steps must you take now to meet the new effective dates?
  • How should you apply the recognition and measurement guidance?
  • How must you make the new disclosures?

Who Should Attend?

  • Loan officers

  • Legal officers

  • Branch managers

  • Human resources professionals

  • Board members

  • Compliance officers

  • Risk officers

  • Auditors

Expert Presenter

Daniel Cotter

  • Attorney and counselor with Howard & Howard in Chicago, Illinois

  • Spent almost 17 years in-house at insurance organizations, focusing on insurance, regulatory, technology, IT, compliance, and transactional matters

  • Worked as an accountant at CAN Financial for over five years

  • Previously an adjunct professor at The John Marshall Law School, teaching Insurance Law, Accounting for Lawyers, and SCOTUS Judicial Biography

  • Completed the Illinois CPA exam

  • Author of The Chief Justices, published in 2019

  • B.A. in accounting from Monmouth College

  • Graduated from The John Marshall Law School

For Teams

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