A Happy Medium on CECL – FASB Delays Effective Dates

On April 27, 2016 the FASB revised the effective dates for the new CECL standard that will be included in the final standard purported to be issued by June 30, 2016.  Essentially, there is a one year delay for each of the specifically identified entities in the proposed ASC 326-10-65.  We have summarized the new effective date requirements in the following decision tree as voted on and approved at the meeting:

CECL Graphic Update 5-01-01