Product Updates November 2025

The Product Updates for November 2025 from BankPolicies.com feature the following revised policy template product:

Current Expected Credit Losses Policy Template

The update to this product is in response to FASB Accounting Standards Update No. 2025-05 entitled “Financial Instruments – Credit Losses (Topic 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets” dated July 2025 that addresses challenges encountered when applying the guidance in Topic 326, Financial Instruments—Credit Losses, to current accounts receivable and current contract assets arising from transactions accounted for under Topic 606, Revenue from Contracts with Customers.  The amendments in this update introduce a practical expedient for all entities and an accounting policy election for entities other than public business entities related to applying Subtopic 326-20 to current accounts receivable and current contract assets arising from transactions accounted for under Topic 606.

Keeping You Informed

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