The safety and soundness of your financial institution depends on your allowance for loan losses (ALL).
Your ALL carries with it several obligations, including compliance with GAAP, regulatory guidance, and your institution's own internal policies and procedures. This OnDemand Webinar will help you navigate the current requirements for ALL methodology. You will gain an understanding of historical loss components, specific reserves, and other qualitative and quantitative factors impacting the calculation. We will also discuss how impaired loans and troubled debt restructurings should be factored into the calculation, along with the resulting requirements for financial statement disclosures. Add to this FASB's 2012 proposal to adopt an expected loss approach rather than the current incurred loss approach, and now is a particularly important time to gain control of your ALL methodology. You will leave this program understanding how to gain control of the challenges and opportunities that lie ahead in 2013 and beyond. Learning Objectives: •You will be able to review ALL methodology and documentation. •You will be able to discuss financial institution policies. •You will be able to identify financial statement disclosures. •You will be able to explain FASB's December 2012 proposal.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
ALL Methodology and Documentation
- ASC 310 (FAS 114) Specific Impairment Reserves
- ASC 450 (FAS 5) Considerations
- Qualitative and Quantitative Factors
- Financial Institution Policies
- Board Reporting
- Regulatory Guidance
Financial Statement Disclosures
- Troubled Debt Restructurings
- Impaired Loans
- Risk Characteristics
FASB's December 2012 Proposal
- Expected Loss Model
- Similarities and Differences Compared to Current Incurred Loss Approach
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 30, 2013.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Todd J. Desjardins
BerryDunn
Todd Desjardins, CPA, CFE
- Senior manager in the Portland, Maine office of BerryDunn
- Provides audit, accounting and consulting services for financial institutions
- Presents regularly to financial institutions on fraud risk management, allowance for loan losses, and troubled debt restructurings
- Participates in and provides updates from the AICPA National Conference on Financial Institutions and Savings Institutions and SEC Institute Conferences
- Publications: Vulnerabilities in a Financial Institution’s Internal Control Structure; The Fraud Triangle: A Well-Balanced Diet; and The Not So Black and White of Fair Value Measurements
- Certified public accountant and member of AICPA
- Certified fraud examiner and member of ACFE
- B.S. degree in accounting, University of Southern Maine
- Can be contacted at [email protected]
Lisa Openshaw
BerryDunn
Lisa Openshaw, CPA
- Senior manager in the Bangor, Maine office of BerryDunn
- Provides audit and consulting services for financial institutions
- Conducts numerous workshops on challenges facing financial institutions, including troubled debt restructurings and strategic initiatives
- Participates in and provides updates from the AICPA National Conference on Financial Institutions and Savings Institutions, AICPA National Conference on Current SEC and PCAOB Developments, and PCAOB Forum on Auditing in the Small Business Environment
- Publications: Private vs. Public Company GAAP Debate – Will It Ever End?; and Our Perspective on the Private vs. Public Company GAAP Debate
- Certified public accountant and member of AICPA
- B.S. degree in accounting, valedictorian, Husson University
- Can be contacted at [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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