2020 GAAP Update

Author: Pat Patterson

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.

Publication Date: June 2020

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

Topics Covered

• ASUs for 2019
• ASUs for 2020
• Overview of Reference Rate Reforms
• COVID—19 Impacts
• FASB for the Future
• Tentative Board Decisions: (A little "heads‐up" and FYI)
• On the Horizon

Learning Objectives

• Recognize a brief review of FASB Concepts
• Recognize updates on selected ASUs from the FASB
• Describe FASB's focus on the future

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

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

Advance Preparation
None