Credit Loss Standard: The New CECL Model
A new accounting standard on credit losses goes into effect in 2020 for public companies and 2021 for private ones. Here’s how the new methodology differs from existing practice.
Doug is a principal in Lumsden McCormick’s accounting and auditing department and has been with the Firm since 2008. Prior to joining the Firm, he worked at KPMG for three years. Doug is responsible for the supervision of staff and planning and completion of client engagements including audits, reviews, compilations, and other bookkeeping and consulting engagements. He has prepared financial statements, coordinated and reviewed work performed by internal auditors, and presented audit findings to management. Doug has experience providing services to financial institutions, workers’ compensation trusts, employee benefit plans, and other commercial businesses, including those in manufacturing, construction, and general service industries. Additionally, he has experience working on SEC engagements. Doug is a member of the Firm’s recruiting team and chairs the Firm’s Accounting & Auditing Technical Committee.
State University of New York at Buffalo, Master of Business Administration in Accounting and Finance and Bachelor of Science in Accounting and Finance
American Institute of Certified Public Accountants
New York State Society of Certified Public Accountants
BDO Alliance USA, Financial Institutions Industry Group
Kevin Guest House, Treasurer
Outside of work, Doug participates in various sporting activities including skiing, boating, fishing, and playing on the Lumsden McCormick accounting league softball team. He also participates yearly in the Ride for Roswell with Firm colleagues.