Overview:
Some FASB pronouncements remain burning issues for years while others fade quietly into obscurity. This continually updated seminar focuses on topics that are “top-of-mind” at FASB, whether new issuances or older pronouncements for which accountants require continuing guidance. You will:
- Explore the rules for business combination, consolidation and valuation methodologies
- Examine the accounting, reporting and tax implications of stock-based compensation
- Understand the consolidation requirements for variable interest entities
- Get an update on FASB’s views on leasing
Objective:
To provide accountants with a thorough treatment of the most important issues currently on FASB’s plate. You’ll gain a solid understanding of topics receiving significant attention, including fair value, leases, stock-based compensation and business combinations and consolidations.
Emphasis:
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International convergence
– FASB vs. IFRS and IFRS for SMEs
– Where the changes will be -
Business combinations (ASC 805)
– Consolidations
– Fair value and FAS 141R
– Variable interest entities and control (ASC 810)
– Intangibles, goodwill and impairment testing
– Equity method -
Share-based payments and ASC 718 (FAS 123R)
– Overview and objectives
– Valuation methodologies
– Tax implications
– Disclosure requirements -
Lease accounting (ASC 840)
– Capital and operating leases
– Buy or lease: using a reasoned approach
– Joint FASB/IASB project on leases
