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Duff & Phelps Webcast: Coronavirus Impact on Entities Subject to the New Current Expected Credit Loss (CECL) Reporting Standards
March 26 @ 12:00 pm - 1:00 pm EDTFree
As we approach the end of the first quarter of 2020, many public companies will be reporting for the first time, the impact on reserves for current expected credit losses (CECL) within their financial statements. The estimation of CECL reserves is new and complicated since credit deterioration must consider both current economic conditions, as well as forecasts that are reasonable and supportable. Currently, forecasts are becoming much more difficult to estimate given the rapidly changing environment caused by the coronavirus (COVID-19). Given the levels of economic uncertainty demonstrated in the public markets and the unknown ultimate impact of COVID-19, using informed judgment to measure credit deterioration as part of the CECL reserves will require even more thought and analysis.
Please join us for a discussion on how best to consider the impact of COVID-19 on CECL for the current quarter end.