General Session (Online)

CU2103. FASB & Financial Reporting Updates for Credit Unions

What is new in the world of financial reporting for credit unions, including on-going matters from the pandemic? FASB is in process of performing it’s post implementation review (PIR) on CECL, including projects on troubled debt restructurings (TDRs), vintage disclosures, and acquired financial assets. We will cover those projects and next steps. What are current FASB projects relevant to credit unions and is up next for the FASB? The FASB issued an invitation to comment for stakeholders to share their views on future agenda priorities. Based on the feedback, where is the FASB likely to focus? This session will cover new standards applicable to credit unions, what is forthcoming from the FASB and other practice issues. Join us to hear perspectives from the FASB staff, the NCUA chief accountant and the AICPA’s Depository Institutions Expert Panel (DIEP).


Learning Objectives:

  • Analyze feedback received on CECL through the FASB’s PIR process
  • Determine next steps in the FASB agenda consultation process
  • Apply the latest developments on accounting and financial reporting for credit unions
Date/Time
–
CPE Credits
1.5
NASBA Field of Study
Accounting
Level
Intermediate
Advanced Preparation
None
Speakers
Image of Sydney Garmong

Sydney Garmong

CPA, CGMA
Partner, National Office
Crowe LLP
Image of Jeffrey Mechanick

Jeffrey Mechanick

CPA, CGMA
Assistant Director
Financial Accounting Standards Board
Image of Alison Clark

Alison Clark

CPA, MBA, CFE
Chief Accountant
NCUA