This course will cover the recently issued Financial Accounting Standards Board (FASB) Accounting Standards Updates (ASUs) for 2022, 2023, 2024, and 2025 as appropriate. In addition, this course will deal with earlier standards that have deferred the effective dates for standards. Further, additional information that the FASB offers that is considered important is dealt with. This includes FASB meetings, news releases and anticipated developments.
Publication Date: April 2025
Designed For
Any professional accountant that has a need to remain current on FASB releases and developments for generally accepted accounting principles (GAAP) should attend this session. This includes those in public accounting, business, nonprofit organizations, and other areas.
Topics Covered
- New issues of Accounting Standards Updates (ASUs)
- New Changes to GAAP and effective dates
- Revised disclosure standards
- Revised accounting issues
- New FASB actions and/or other pronouncements
- Other matters deemed appropriate and timely
Learning Objectives
- Recognize and apply new GAAP releases
- Identify the issues in the new Accounting Standards Updates
- Recognize any new disclosure issues
- Recognize changes to valuation of newly formed joint ventures
- Recognize any potential changes to future GAAP
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
Basic knowledge of FASB and GAAP.
Advance Preparation
None
Instructor
Pat Patterson
Cecil Patterson, (Pat), CPA, MBA, is an award-winning, nationally recognized author, speaker, and discussion leader for continuing education courses and numerous state societies. He has experience at the local and national CPA-firm level and as an adjunct university professor.
Pat holds an MBA from the University of North Florida and is a CPA and owner of the firm of Cecil Patterson, CPA. His firm provides, accounting, tax preparation and tax planning services, wealth management services, and consulting for businesses and other professional firms.
Pat has served on the AICPA Council, the FICPA Council, and the FICPA Educational Foundation Board of Trustees.