2020 GAAP Update (Completed)

Date: Wednesday, December 9, 2020
Instructor: Pat Patterson
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs

Review new FASB Pronouncements for 2019/2020 up to the date of the course. This presentation will inform participants of the latest issues from the FASB and the Private Companies Council as well. Any newly released accounting standards will be visited.

Who Should Attend
Professionals in public practice, industry, government, and education who deal with nonpublic entities and wish to stay current on professional standards.

Topics Covered

  • New releases from the FASB
    -Revenue Recognition
    -Financial Instruments
  • New releases from the Private Companies Council (PCC).
  • An advanced look at documentation standards will be reviewed for changes required by new FASB and PCC standards
  • Further updates that impact on the accounting standards.
  • Ethics Interpretation 101-3 will be explored for revisions and updates in attest/nonattest applications as released or considered by the Professional Ethics Executive Committee.
  • Any other matters deemed appropriate and timely

Learning Objectives

  • Recognize insight into the FASB pronouncements that may impact private companies that come from the FASB and the Private Companies Council
  • Review other new GAAP releases that may affect the non issuing entities
  • Identify and apply the updates of the new Accounting Standards Codifications issued as updates for 2019 and the latter part of 2020


Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
A basic understanding of Generally Accepted Accounting Standards (GAAP).

Advance Preparation

 Chat — Books Support