...This Statement of Position (SOP) addresses the accounting for the allowance for loan losses by enterprises with lending activities and specifies how such enterprises should determine the allowance for loan losses in accordance with Financial Accounting Standards Board (FASB) Statement of Financial Accounting Standards No. 5, Accounting for Contingencies, and FASB Statement No. 114, Accounting by Creditors for Impairment of a Loan, as amended by FASB Statement No. 118...

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