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SEC: Talk to Us Before Using Adjusted Loan Loss Numbers

Nov. 12, 2019, 9:52 PM

If a business about to adopt the biggest change to bank accounting in decades plans to use non-sanctioned accounting to report its finances once the new rules start to apply, it needs to talk to the SEC first, agency officials advise.

“Maybe you want to give us a call and have a conversation about the best way to show the impact of something,” SEC Corporation Finance Chief Accountant Kyle Moffat said Nov. 12.

In general, however, the market regulator is discouraging companies from using metrics that don’t conform to U.S. generally accepted accounting principles when it comes to the...

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