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Heads Up: IASB Proposes New Approach to Accounting for Credit Losses

Volume 16, Issue 40

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The attached issue of Heads Up discusses the IASB’s recent exposure draft, Financial Instruments: Amortised Cost and Impairment, which proposes a fundamentally new approach to accounting for credit losses to replace the existing “incurred-loss” model. The proposed approach, which affects the recognition of both net interest revenue and credit impairment, is designed to result in earlier loss recognition by taking into account future credit losses expected over the life of loans or other financial assets (an “expected-loss” approach).

Read more in the file attached below or visit the Heads Up Archive for past issues.

Heads Up and other information on accounting and financial disclosure also can be found in the Technical Library: The Deloitte Accounting Research Tool. Technical Library, a subscription-based research tool, includes material from the the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), AICPA, Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretative accounting guidance. Updated every business day, the Technical Library has an intuitive design and navigation system. Powerful search features enable users to locate information quickly, at any time and from any computer. Additionally, Technical Library subscribers receive periodic e-mails highlighting recent additions to the Technical Library.