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Wisconsin Credit Union Foundation

The ALLL with TDRs & Foreclosed Assets

Join us to review each area, address the accounting and regulatory implications, and provide best practice recommendations.

Dec 19, 2017 02:00 PM   -­­  Dec 19, 2017 03:30 PM
CT
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Type of Event
Webinar

Who Should Attend
  • Webinars
  • Lenders

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Description

The allowance for loan and lease losses (ALLL) is typically the single largest estimate in a credit union’s financial statements and receives significant attention from management, volunteers, regulators, and auditors. The ALLL will garner even more attention due to the new Current Expected Credit Loss (CECL) Accounting Standard Update (ASU 2016-13) issued in June 2016. Troubled-debt restructurings (TDRs) can be very difficult to identify, track, and incorporate into the ALLL calculation. The accounting for foreclosed assets can create challenges, from initial measurement, recording additional costs, evaluating for impairment, and accounting for the ultimate sale. Join us to review each area, address the accounting and regulatory implications, and provide best practice recommendations.

Learning Objectives

  • The three main components of a credit union’s ALLL methodology and calculation
  • Planning for the new CECL model that will likely result in a significant increase to your ALLL
  • Identify TDRs and quantify the impact in the ALLL calculation
  • Account for foreclosed assets from the time of foreclosure to the time of sale
  • Best practices and resources, including links to important websites

Speaker

Stephen J.M. Schiltz, CPA, CliftonLarsonAllen, LLP

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