Author Michael Gullette

Michael Gullette

Michael Gullette is vice president for accounting and financial management policy at ABA.

Newsbytes

With FASB’s recent announcement of a 2019 effective date for their CECL impairment accounting standard, Fintellix Solutions and Ardmore Banking Advisors have released a white paper: “Effective CECL Adoption Timelines Confirmed: Expected Cost of Implementation.”

Newsbytes

During a conference call yesterday with more than 3,000 participants, Federal Reserve Board staff indicated that the Financial Accounting Standards Board’s new model for impairment accounting — current expected credit loss, which is expected to be finalized in January and effective no earlier than 2018 — is not a tweak to existing accounting, but rather a fundamental change to bank accounting.

Newsbytes

ABA recently urged the Public Company Accounting Oversight Board to emphasize enforcement of current audit requirements relating to the work of specialists, rather than creating new auditing standards.

Newsbytes

ABA yesterday warned the Financial Accounting Standards Board that a proposed change in accounting for stock options will subject a company’s earnings to the volatility of its stock price.

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