Allowance for Credit Losses
In July 2010, the Financial Accounting Standards Board (FASB) issued new guidance requiring significant additional financial statement disclosures relating to the credit quality of financing receivables and the allowance for credit losses. The new guidance was issued in Accounting Standards Update (ASU) 2010-20.
More on this article is available in a PDF you can download by clicking this link: New Disclosure Requirements for Receivables and the Allowance for Credit Losses
Disclaimer of Liability: This publication is intended to provide general information to our clients and friends. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.