FASB Update: A Practical Implementation Guide

Overview

This course provides a detailed discussion on the key topics related to financial reporting. The course will focus on all recent ASUs issued by the FASB with a concentration on issues of greatest significance to most accounting practitioners. Specifically, the course will review all recently issued FASB updates, with a focus on those related to leases (ASC 842), and credit losses (ASC 326), which will impact virtually all companies. The course will address other challenging areas of accounting, such as accounting for income taxes and for debt instruments.  Lastly, it will provide you with a comprehensive review of recent Private Company Standard-Setting activities and what is on the FASB’s technical agenda.   This course is the place to go for a detailed understanding of all the goings on at the FASB that impact smaller and medium-sized companies.

Prerequisites

Experience in financial accounting and reporting.

Designed For

Small and medium-sized practicing CPAs and their staffs, both in public accounting and business and industry, controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review

Objectives

Be familiar with recent private company standard setting activities.     Review recently issued FASB Accounting Standards Updates that relate to small and medium-sized businesses.     Review the FASB’s recently issued lease accounting standard     Understand the changes coming with the FASB’s new credit losses standard.     Be aware of other important practice matters     Utilize hands-on examples and illustrations to increase your overall understanding and application of the material.

Preparation

None.