Financial assets
05.08.2020 | Duration: 30:21
Implications of COVID-19 on financial assets, including credit losses and loan modifications.
Podcast overview
In this 30-minute podcast, specialists from 乐鱼（Leyu）体育官网鈥檚 Department of Professional Practice discuss the implications of COVID-19 on financial assets, including the new credit losses standard, loan modifications and available reliefs.
Applicability
- All companies
Relevant dates
- Effective immediately
Podcast contents
- 01:25聽鈥� Overview of what鈥檚 happening to financial assets in the current economy, and the level of loan losses being seen
- 05:20聽鈥� Approaches to estimating credit losses in the current environment, including single versus multiple scenario approaches, and governance controls
- 10:05聽鈥� Loan modifications and accounting relief for troubled debt restructurings
- 15:25聽鈥� Benefits of the accounting relief in estimating credit losses: measuring the direct effect of modifications, credit risk mitigation, and operational relief
- 17:30聽鈥� Practical tips for CFOs and controllers, including tracking modifications, considering accrued interest receivable, and the relevance and reliability of data
- 20:55聽鈥� Equity and debt securities, and trade receivables for commercial companies
- 26:20聽鈥� The importance of a communications strategy around judgments and estimates, including how scenarios were considered and the assumptions made
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