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FAS 114 and 118: Implementation of new loan impairment standards
Author(s) -
Dale Kitchens H.
Publication year - 1994
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.3970060204
Subject(s) - loan , creditor , consistency (knowledge bases) , accounting , business , actuarial science , finance , computer science , debt , artificial intelligence
The FASB's new standards for loan impairment will bring more consistency to creditor accounting for and disclosure of impaired loans. These new standards also significantly change impaired loan disclosure requirements. Very little time remains before the new standards must be implemented. In this article, the author analyzes the requirements of the new standards and the implementation issues involved and provides useful suggestions on how to implement them.