New FASB Developments (Completed)

Since 2009, the FASB has released over 135 new Accounting Standards Updates (ASUs). Professionals in corporate management and public accounting who need a review of new and recent FASB pronouncements should take this course. The presentation will assist you in obtaining a reasonable and high-level of understanding of financial reporting issues. Examples, descriptions, and practical implementation solutions will be used to assist the professional in gaining an understanding of the problems and issues facing them with important, complicated, and new pronouncements for the future.

Who Should Attend
Professionals in public practice, business, industry, government, and education who deal with nonpublic entities and need a course on how to handle the major FASB issues of leases, financial instruments, and revenue recognition plus many more areas of change.

Topics Covered

• Revenue Recognition
• Leases
• Financial Instruments
• Private Company Council status and agenda items
• FASB issues with newly released and to be issued pronouncements
• Changes to the changes
• International standards and their impact and status
• A future view of GAAP
• Other recent and new topics as deemed timely and necessary

Learning Objectives

• Recognize the major issues of the "Big Three Project"
• Identify how to properly handle the reporting requirements of the Major components of the Big Three
• Recognize how to properly record, report, and disclose the various issues in the "Big Three"
• Identify and Implement other new and recent FASB standards and to learn of pending FASB pronouncements and agenda items

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None