Accounting Standards Update: Summer 2019 (Completed)
Date: Tuesday, August 27, 2019
Instructor: Pat Patterson
||9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
||2 hours for CPAs
This course will present an update on selected Accounting Standards Updates (ASUs) from the Financial Accounting Standards Board (FASB) for 2014 and forward. The course will cover the FASB’s “Big Three” standards and their related “changes” and updates through ASU 2018-20. Other selected updates will be covered as well. Additionally, the session will cover some of the items the FASB is looking at for the future. There will also be some comments on the FASB Chairman’s remarks.
Who Should Attend
Professionals in public practice, industry, government, and education who deal with nonpublic entities and wish to stay current on professional accounting standards.
- Revenue Recognition and changes and explanations
- Financial Instruments
- The CECL Model for financial instrument impairment issues
- Related changes and amendments to leases for both lessees and lessors
- FASB outlook and thoughts for the future
- Selected comments from Russell G. Golden, FASB Chair
- Recognized some of the latest changes to the FASB's "Big Three" project
- Recognize how to better deal with the required reporting and disclosure issues of finance and operating leases
- Identify the change in financial instrument impairment issues
- Describe and have a working knowledge of selected GAAP updates from the FASB
NASBA Field of Study
Accounting (2 hours)
Basic knowledge of accounting.