Current Expected Credit Losses
The new credit loss standard (CECL) requires companies to estimate expected credit losses on their financial instruments over the entire life of the asset. The standard impacts many areas of an organization beyond just accounting and often presents more challenges than management teams anticipate. Finance systems, business processes, operations, and financial reporting all need to be carefully considered.
Riveron helps clients simplify the adoption process and create sustainable solutions. We provide more than just a set of recommendations — we become an extension of management to ensure the implementation is practical and tailored to your business needs.
Riveron’s practical approach ensures an efficient and successful implementation by assisting with:
- Gap assessment
- Project management
- Data abstraction
- Accounting policy and methodology development
- Reporting and disclosure requirements
- Business process design
- Internal controls development and testing
- Training and education
- Model development and validation
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Riveron looks at several pitfalls faced by public company adopters during their implementation of the new credit loss standard, CECL.
Riveron experts explain how CECL will affect the healthcare industry and what companies should keep in mind as they transition to the new standard.
As companies turn their attention to CECL, the new credit loss guidance, they are required by SEC to disclose the potential impact of the new standard, even if it’s immaterial.
The new credit loss model, CECL, does not just affect financial institutions, but all entities that carry receivables on their balance sheet.