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Credit Managers Guide to CECL: Planning and Implementation Methods
Watch this online training to understand what is CECL (Current Expected Credit Loss ) and how to prepare for it
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  • Lesson Overview
  • Transcript
  • Resources
  • Discuss

According to a recent Credit Today survey, 43% of business credit professionals are unaware of CECL. And a  whopping 57% of them are not even sure if their company is prepared for this.

But why is CECL important to the Credit Manager? If calculating your company's reserve for bad debt falls on your shoulders, then being aware of the regulatory changes is a necessity for you. And NOW is the time to start planning for CECL.

The Financial Accounting Standards Board (FASB) has issued new standards that require you to implement a Calculated Expected Credit Loss (CECL) methodology starting next year. The new change requires you to calculate “expected losses” as opposed to a historical loss calculation, or by pooling customers with a similar risk profile.

CECL ushers in a new era of accountability and have already proven its usefulness in tempering the effects of the COVID-induced economic crisis. CECL implementation can deliver greater insight into portfolio risk and control, to stakeholders across the organization.

Why wait when you can start by preparing early on. Watch the detailed tutorial by expert Bob Shultz to unbox the requirements and challenges in implementing the required changes.

Key things that you will learn in this tutorial:

  • Prerequisites of CECL
  • The Importance of CECL in a Credit Manager’s Life
  • Eight Steps To an Effective CECL Implementation
  • The Ultimate Implementation Checklist.

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Instructor
Robert S. Shultz · Founder, Quote to Cash Solution
Robert Shultz has had a thirty-year career as a global credit and financial executive for large multinational companies. As a Founding Partner of Quote to Cash Solutions (Q2C) LLC, he provides consulting services in all aspects of the credit and collections process for companies of all sizes in a variety of industries.
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Credit Managers Guide to CECL: Planning and Implementation Methods

Watch this online training to understand what is CECL (Current Expected Credit Loss ) and how to prepare for it

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About this Course

promoImage
description
lessonOverview

According to a recent Credit Today survey, 43% of business credit professionals are unaware of CECL. And a  whopping 57% of them are not even sure if their company is prepared for this.

But why is CECL important to the Credit Manager? If calculating your company's reserve for bad debt falls on your shoulders, then being aware of the regulatory changes is a necessity for you. And NOW is the time to start planning for CECL.

The Financial Accounting Standards Board (FASB) has issued new standards that require you to implement a Calculated Expected Credit Loss (CECL) methodology starting next year. The new change requires you to calculate “expected losses” as opposed to a historical loss calculation, or by pooling customers with a similar risk profile.

CECL ushers in a new era of accountability and have already proven its usefulness in tempering the effects of the COVID-induced economic crisis. CECL implementation can deliver greater insight into portfolio risk and control, to stakeholders across the organization.

Why wait when you can start by preparing early on. Watch the detailed tutorial by expert Bob Shultz to unbox the requirements and challenges in implementing the required changes.

Key things that you will learn in this tutorial:

  • Prerequisites of CECL
  • The Importance of CECL in a Credit Manager’s Life
  • Eight Steps To an Effective CECL Implementation
  • The Ultimate Implementation Checklist.
transcript

Coming Soon
resources Coming Soon
discuss Coming Soon
instructor
name title image description
Robert S. Shultz Founder, Quote to Cash Solution Robert Shultz has had a thirty-year career as a global credit and financial executive for large multinational companies. As a Founding Partner of Quote to Cash Solutions (Q2C) LLC, he provides consulting services in all aspects of the credit and collections process for companies of all sizes in a variety of industries.
recommendation
image tag title description link duration
Portfolio Analysis Effective Credit and Collection Strategies During Recession Learn how to manage portfolios, credit, and collection tactics during the recession. https://academy.highako.com/collections-strategy-during-recession-course 60 min
Credit Policy Eliminating B2B Payment Frauds | Check and Bulk Transfer Frauds Learn all about check frauds, bulk transfer, and internal fraud in B2B payments. https://academy.highako.com/business-fraud-elimination-course 60 Min
KPIs and Reporting Understanding Credit and Collections KPIs Understand how collections and credit KPIs to help you understand metrics like DSO, Collection Effective Index, and other AR metrics. https://academy.highako.com/understanding-the-credit-and-collections-kpis-course 120 Min

Curriculum

  • Importance of CECL to the Credit Department ( ~ 4 mins)
  • Preview
    Prerequisites and Learning Objectives of The CECL Tutorial
  • Importance of CECL to a Credit Manager
  • The Reasoning Behind CECL
  • Implementation Requirements of CECL ( ~ 6 mins)
  • Implementation and Planning of CECL
  • Companies Subject or Exempt from CECL Compliance
  • CECL Requirements and it's Key Components
  • How to Start with CECL Set-up ( ~ 2 mins)
  • Where to Start to Set-up CECL in your Company
  • Planning and Implementing CECL in Cross Functional Teams ( ~ 2 mins)
  • CECL Implementation Using Cross Functional Cooperation
  • Five Steps to Implement CECL in Your Company ( ~ 7 mins)
  • The First Step to Implementing CECL in Your Company
  • Risk Management and Reviewing Historical Data for Implementing CECL
  • Establishing Reviews and Conducting Trial Runs For Implementing CECL
  • Identifying Which Senior Stakeholders to Involve ( ~ 3 mins)
  • Who to Involve and Their Roles
  • What to do in Case of Inadequate Data and Examples of Available Benchmarking Resources
  • Implementation Checklist for an Effective CECL ( ~ 4 mins)
  • Implementation Checklist in Different Stages
  • What we Covered in this CECL tutorial

About this Course

promoImage
description
lessonOverview

According to a recent Credit Today survey, 43% of business credit professionals are unaware of CECL. And a  whopping 57% of them are not even sure if their company is prepared for this.

But why is CECL important to the Credit Manager? If calculating your company's reserve for bad debt falls on your shoulders, then being aware of the regulatory changes is a necessity for you. And NOW is the time to start planning for CECL.

The Financial Accounting Standards Board (FASB) has issued new standards that require you to implement a Calculated Expected Credit Loss (CECL) methodology starting next year. The new change requires you to calculate “expected losses” as opposed to a historical loss calculation, or by pooling customers with a similar risk profile.

CECL ushers in a new era of accountability and have already proven its usefulness in tempering the effects of the COVID-induced economic crisis. CECL implementation can deliver greater insight into portfolio risk and control, to stakeholders across the organization.

Why wait when you can start by preparing early on. Watch the detailed tutorial by expert Bob Shultz to unbox the requirements and challenges in implementing the required changes.

Key things that you will learn in this tutorial:

  • Prerequisites of CECL
  • The Importance of CECL in a Credit Manager’s Life
  • Eight Steps To an Effective CECL Implementation
  • The Ultimate Implementation Checklist.
transcript

Coming Soon
resources Coming Soon
discuss Coming Soon
instructor
name title image description
Robert S. Shultz Founder, Quote to Cash Solution Robert Shultz has had a thirty-year career as a global credit and financial executive for large multinational companies. As a Founding Partner of Quote to Cash Solutions (Q2C) LLC, he provides consulting services in all aspects of the credit and collections process for companies of all sizes in a variety of industries.
recommendation
image tag title description link duration
Portfolio Analysis Effective Credit and Collection Strategies During Recession Learn how to manage portfolios, credit, and collection tactics during the recession. https://academy.highako.com/collections-strategy-during-recession-course 60 min
Credit Policy Eliminating B2B Payment Frauds | Check and Bulk Transfer Frauds Learn all about check frauds, bulk transfer, and internal fraud in B2B payments. https://academy.highako.com/business-fraud-elimination-course 60 Min
KPIs and Reporting Understanding Credit and Collections KPIs Understand how collections and credit KPIs to help you understand metrics like DSO, Collection Effective Index, and other AR metrics. https://academy.highako.com/understanding-the-credit-and-collections-kpis-course 120 Min

Curriculum

  • Importance of CECL to the Credit Department ( ~ 4 mins)
  • Preview
    Prerequisites and Learning Objectives of The CECL Tutorial
  • Importance of CECL to a Credit Manager
  • The Reasoning Behind CECL
  • Implementation Requirements of CECL ( ~ 6 mins)
  • Implementation and Planning of CECL
  • Companies Subject or Exempt from CECL Compliance
  • CECL Requirements and it's Key Components
  • How to Start with CECL Set-up ( ~ 2 mins)
  • Where to Start to Set-up CECL in your Company
  • Planning and Implementing CECL in Cross Functional Teams ( ~ 2 mins)
  • CECL Implementation Using Cross Functional Cooperation
  • Five Steps to Implement CECL in Your Company ( ~ 7 mins)
  • The First Step to Implementing CECL in Your Company
  • Risk Management and Reviewing Historical Data for Implementing CECL
  • Establishing Reviews and Conducting Trial Runs For Implementing CECL
  • Identifying Which Senior Stakeholders to Involve ( ~ 3 mins)
  • Who to Involve and Their Roles
  • What to do in Case of Inadequate Data and Examples of Available Benchmarking Resources
  • Implementation Checklist for an Effective CECL ( ~ 4 mins)
  • Implementation Checklist in Different Stages
  • What we Covered in this CECL tutorial