Reflections on the development of the FASB’s and IASB’s expected-loss methods of accounting for credit lossesFootnote^†

† This paper is based on a presentation at an Accounting and Business Research symposium on The Role of Accounting Information in Debt Markets at the European Accounting Association Congress, Valencia (May 2017). The paper is informed by work carried out within a project for which some results are reported in an ICAEW research briefing (O'Hanlon et al. Citation2018). The authors gratefully acknowledge the financial support of the ICAEW's Charitable Trusts for that project. This paper has benefited from the comments of Kees Camfferman on a preliminary version and from the detailed comments and suggestions of an anonymous reviewer.

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