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Investors require better explanation of new credit losses standard.

Investors require better explanation of new credit losses standard. FASB's Investor Advisory Committee (IAC) requested more information about how the FASB's planned standard to revamp loan-loss accounting will work once it is implemented. FASB aims to publish the much-anticipated final standard by the end of the year, but the panel's members say they do not have enough information to sufficiently judge the standard and advise the board on its requirements. "We need specificity in terms of what questions you specifically have and what additional examples you need to be provided with," FASB member Lawrence Smith said. "Because right now, I participated in that session, and I don't quite understand what you're asking."

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Title Annotation:FASB News
Publication:The CPA Journal
Article Type:Brief article
Geographic Code:1USA
Date:Oct 1, 2015
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