Last night, CUNA distributed a summary of accounting guidelines to members to assist with the question of whether or not to record U.S. Central's Dec. 31 losses on their books.
The guidelines, written by the American Institute of Certified Public Accountants, addressed credit union accounting for the costs associated with the NCUA's Corporate Stabilization Plan, which includes considerations for both natural person credit unions and corporates.
The guidelines come to the general conclusion that credit unions have flexibility when it comes to reporting the NCUSIF insurance premium and U.S. Central-related losses.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
