Allowance for Credit Losses on Loans & Leases (CECL)
Acct Code |
Description |
Tip for pulling data stored in CU*BASE |
AS0048 |
If you have adopted ASC Topic 326: Financial Instruments - Credit Losses (CECL) then report the allowance for credit losses as determined in accordance with ASC Topic 326.
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This can be a General Ledger balance from your credit union balance sheet. Obtain the balance of the G/L account as of quarter end. |
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One or more automation routines are available for this Account Code. Click to select from the available routines and configure the data. |
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The NCUA provides detailed descriptions on the Call Report Account Codes in their comprehensive Call Report Instructions available with the current Call Report on the http://www.ncua.gov website.
For more information about the 5300 Call Report Software, open the book.