PwC responds to the FASB’s proposed improvements to CECL

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Comment letter , PwC US Mar 07, 2019

The FASB proposed updates that would allow entities to elect the fair value option upon adoption of the new credit losses standard. Find out what we think.

Overview

PwC submitted a response letter expressing support for the FASB’s proposal to make targeted improvements to the new credit losses standard. Under the proposed amendments, companies would have the option to irrevocably elect the fair value option for eligible instruments upon adopting the CECL standard. Previously, such an election could only be made upon the acquisition of financial instruments.

Contact us

Heather Horn

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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