Are You Prepared for CECL? 5 Common Pitfalls Companies Face

January 1, 2023, marked the date of CECL adoption for public smaller reporting companies and private companies that did not previously adopt CECL early. If you haven’t adopted CECL and are preparing to assess its impact, there are ways to ensure you are set up for success.

Centri’s Blake Roberts, Partner & Technical Accounting Practice Leader, describes the 5 common pitfalls companies face with the adoption of CECL.

Blake Roberts headshot.

Blake Roberts

Partner | Technical Accounting Practice Leader | CPA

Blake is a Partner at Centri Business Consulting and the leader of the firm’s Technical Accounting Practice. He has more than 18 years of public accounting experience. View Blake Roberts's Full Bio

About Centri Business Consulting, LLC

Centri Business Consulting provides the highest quality advisory consulting services to its clients by being reliable and responsive to their needs. Centri provides companies with the expertise they need to meet their reporting demands. Centri specializes in financial reportinginternal controlstechnical accounting researchvaluationmergers & acquisitions, and tax, CFO and HR advisory services for companies of various sizes and industries. From complex technical accounting transactions to monthly financial reporting, our professionals can offer any organization the specialized expertise and multilayered skillsets to ensure the project is completed timely and accurately.

Philadelphia
3 Logan Square
26th Floor
1717 Arch Street
Philadelphia, PA 19103
New York City
530 Seventh Avenue
Suite 2201
New York, NY 10018
Raleigh
4509 Creedmoor Rd
Suite 206
Raleigh, NC 27612
Tampa
615 Channelside Drive
Suite 207
Tampa, FL 33602
Atlanta
1175 Peachtree St. NE
Suite 1000
Atlanta, GA 30361
Boston
50 Milk St.
18th Floor
Boston, MA 02109
Tysons Corner
1775 Tysons Blvd
Suite 4131
McLean, VA 22102
Denver
One Tabor Center
1200 17th St.
Floor 10
Denver, CO 80202
Centri Everywhere
1-855-CENTRI1
virtual@CentriConsulting.com

08/14/2025

What’s New in CECL: Key Updates to Financial Instruments – Credit Losses (Topic 326)

In July 2025, the Financial Accounting Standards Board (FASB) issued an Accounting...

Read More

06/11/2024

3 Key Details for a Successful CECL Implementation

Current Expected Credit Losses (CECL) is a financial accounting standard introduced by...

Read More

03/11/2024

Observations from CECL Adoption

Companies that have not yet adopted ASC 326 – Current Expected Credit...

Read More

12/18/2023

CECL Accounting: Implementation & Challenges

What is current expected credit loss (CECL) and why is it important?...

Read More

12/13/2023

Centri Case Study: The Technical Expertise You Need for Adopting CECL

Challenge A public mortgage Real Estate Investment Trust (REIT) identified that, as...

Read More

10/19/2023

3 Considerations for Auditors and the Adoption of CECL

Auditors have been busy this year bringing their clients up to speed...

Read More

09/28/2023

5 Considerations for CECL Adoption – Lessons Learned

In June 2016, the FASB issued ASU 2016-13 (Accounting Standards Codification (“ASC”)...

Read More

Related Services