Allowance for credit losses.

The AICPA's Accounting Standards Executive Committee released an exposure draft of a proposed Statement of Position concerning allowance for credit losses.

The draft addresses the measurement and recognition by creditors of the allowance for credit losses related to all loans. The SOP would apply to all creditors, with the exception of state, local and federal government entities.

The comment period ends Sept. 19.

To review the exposure draft, visit www.aicpa.org/download/acctstd/2003_06_19 %20ED_SOP.pdf.

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Title Annotation:	AICPA News
Publication:	California CPA
Article Type:	Brief Article
Geographic Code:	1USA
Date:	Aug 1, 2003
Words:	80
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