Triple

Given a phrase, classify it is english named entity (e.g., persons, organizations, works of art) in Latin script, or not (e.g., literals, dates, URLs, verbose phrases). For disambiguation, the statement where the phrase occurs as object is also given. Please return a JSON object with `phrase` (string, the phrase being analyzed) and `is_ne` (boolean, indicating whether the phrase is a Named Entity).

Phrase: Topic 326 Financial Instruments—Credit Losses | Statement: [FASB Accounting Standards Codification, includesStandard, Topic 326 Financial Instruments—Credit Losses]

Target entity: Topic 326 Financial Instruments—Credit Losses
Context triple: [FASB Accounting Standards Codification, includesStandard, Topic 326 Financial Instruments—Credit Losses]

• A. IFRS 9 Financial Instruments
  IFRS 9 Financial Instruments is an international accounting standard that sets out principles for the classification, measurement, impairment, and hedge accounting of financial instruments.
• B. IAS 32 Financial Instruments: Presentation
  IAS 32 Financial Instruments: Presentation is an International Accounting Standard that sets out principles for classifying and presenting financial instruments as liabilities or equity in financial statements.
• C. IFRS 7 Financial Instruments: Disclosures
  IFRS 7 Financial Instruments: Disclosures is an international accounting standard that sets out detailed disclosure requirements to help users assess the significance of financial instruments and the nature and extent of related risks in an entity’s financial statements.
• D. IAS 36 Impairment of Assets
  IAS 36 Impairment of Assets is an International Accounting Standard that prescribes procedures to ensure assets are not carried at more than their recoverable amount, requiring entities to recognize and measure impairment losses when necessary.
• E. IFRS 15 Revenue from Contracts with Customers
  IFRS 15 Revenue from Contracts with Customers is an international accounting standard that sets out a comprehensive, principles-based framework for recognizing revenue from customer contracts across industries.
• F. None of above. chosen
• G. Unsure - the case is ambiguous/there is not enough information to decide.

Generate a one-sentence description of the target entity. 
You are given a context triple in the form (subject, predicate, object), where the object is the target entity. 
# Instructions
Use the triple to infer relevant information about the entity. Describe the entity based on what is most defining, well-known. 
Avoid repeating the information from the triple, unless really essential.
# Response Format
Return only the sentence: "Description: [one-sentence description of the target entity]"

Entity: Topic 326 Financial Instruments—Credit Losses
Triple: [FASB Accounting Standards Codification, includesStandard, Topic 326 Financial Instruments—Credit Losses]

Topic 326 Financial Instruments—Credit Losses is a U.S. GAAP accounting standard that establishes the current expected credit loss (CECL) model for measuring and recognizing credit losses on financial assets.

Target entity: Topic 326 Financial Instruments—Credit Losses
Target entity description: Topic 326 Financial Instruments—Credit Losses is a U.S. GAAP accounting standard that establishes the current expected credit loss (CECL) model for measuring and recognizing credit losses on financial assets.

• A. IFRS 9 Financial Instruments
  IFRS 9 Financial Instruments is an international accounting standard that sets out principles for the classification, measurement, impairment, and hedge accounting of financial instruments.
• B. IAS 32 Financial Instruments: Presentation
  IAS 32 Financial Instruments: Presentation is an International Accounting Standard that sets out principles for classifying and presenting financial instruments as liabilities or equity in financial statements.
• C. IFRS 7 Financial Instruments: Disclosures
  IFRS 7 Financial Instruments: Disclosures is an international accounting standard that sets out detailed disclosure requirements to help users assess the significance of financial instruments and the nature and extent of related risks in an entity’s financial statements.
• D. IAS 36 Impairment of Assets
  IAS 36 Impairment of Assets is an International Accounting Standard that prescribes procedures to ensure assets are not carried at more than their recoverable amount, requiring entities to recognize and measure impairment losses when necessary.
• E. IFRS 15 Revenue from Contracts with Customers
  IFRS 15 Revenue from Contracts with Customers is an international accounting standard that sets out a comprehensive, principles-based framework for recognizing revenue from customer contracts across industries.
• F. None of above. chosen