Pub 10 2021 Issue 2

Pub. 10 2021 Issue 2 13 to do right now. Most of you reading these words represent true community banking and feel like this standard was not intended for your institution’s size and complexity. You may not receive a financial statement audit and answer solely to state regulators and the FDIC or OCC. While the market is ripe with powerful software applications, you question if those solutions’ cost and complexity are commensurate with your institution’s risk and what is truly required. To this end, you are frustrated with the academic articles pontificating on one of the most confusing and subjective accounting standards ever written by our friends at FASB. I have always been taught to never address a problem without offering a related solution—and I believe BKD has done Michael is a member of BKD National Financial Services Group. He has experience providing audit and consulting services to both publicly traded and privately held financial institutions, including banks, credit unions, broker-dealers, investment funds and fintech firms. This article is for general information purposes only and is not to be considered as legal advice. This information was written by qualified, experienced BKD professionals, but applying this information to your particular situation requires careful consideration of your specific facts and circumstances. Consult your BKD advisor or legal counsel before acting on any matter covered in this update. just that. Our team has developed a CECL solution geared toward community banks that delivers the rare one-two punch: an understandable CECL tool coupled with a BKD Trusted Advisor who assists with developing and documenting your unique CECL calculation. Our aim is not to be just another software application. Instead, our goal is to work with management to develop a CECL calculation that is easy to use and easier to understand and comes with a BKD Trusted Advisor in tow. With our help, you can be “CECLing” independently (and accurately) after initial adoption. Lately, as it relates to CECL, I have felt that I have been shouting into the empty void where practicality and sensibility used to reside. Help me fill this void. CECL requires “reasonable and suppor table forecasts ” when determining expected credi t losses.