After looking at CECL disclosures from the first three quarters of 2020, we’ve noted some clear trends. In this timely episode, host Heather Horn is joined by Chip Currie and Jonathan Odom, two PwC National office partners, to discuss CECL disclosures and share important reminders as calendar year-end companies dive into their year-end reporting cycle.

Topics include:

• 0:45 - Introduction. Before launching into the CECL disclosures, we highlight some changes made to the CARES Act deferral of CECL and troubled debt restructuring guidance as a result of the recent stimulus bill signed into law in December.
• 6:01 - Q3 2020—What we saw. We provide perspectives on how CECL-related disclosures have evolved through Q3 of 2020, including what we’ve heard from analysts.
• 14:18 - The FASB. The FASB has been actively working on their post-implementation review of the CECL accounting standard. In this section, we discuss what they’ve heard in terms of disclosures and share other observations on what we expect to come out of their review. 
• 16:58 - SEC comment letters. Any new developments or focus areas of the SEC? We take a look.   
• 18:22 - Final reminders. As companies prepare and refine their disclosures for their annual reports, we share some general best practices.

Chip Currie is a partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments for both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters.

Jonathan Odom is an assurance partner in PwC’s National Office SEC services practice with over 20 years of experience in providing accounting and advisory services to the financial services sector. 

Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With nearly 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].

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