Financial Accounting & Reporting Virtual Conference: An Update for Corporate Accountants

DAY ONE AGENDA

Welcome & Opening Remarks
8:45 – 9:00 AM

Current Projects at the FASB
9:00 – 10:00 AM
FASB's recent changes will have a huge impact on business in many important areas, such as lease accounting, financial instruments, revenue recognition, business combinations, and more. This session will update you on what these changes are, including:
• Accounting Standards Updates
• FABS's Technical Agenda
• Select New Standards
• Revised Effective Dates—"Two Bucket" Approach
• Recently Issued Exposure Documents (EDs)
• Emerging Issues Task Force (EITF) 

Break
10:00 – 10:05 AM

ASC 820: Valuation Approaches, Techniques & Methods
10:05 – 11:20 AM
This session will cover:
• An overview of the valuation process and basics of value calculations
• Performing valuations and fair-value determinations in acquisitions
• Types of Value—Market, Enterprise, & Equity
• The Valuation Process
• Goodwill & Intangible Asset Impairment Testing
• Cost, Market & Income Approaches
• Fair value disclosures

Break
11:20 – 11:25 AM

Impairments & Intangibles
11:25 AM – 12:25 PM
Accounting for asset impairments and intangibles can be a minefield. This session will focus on the accounting principles concerning impairments of assets, intangibles, capitalization and goodwill, and will also discuss:
• Testing impairment of goodwill, and other intangibles with an indefinite life
• Impairment triggers and calculations
• Capitalization, depreciation and amortization
• Discontinued operations and Assets Held for Sale
• Deferred taxes associated with depreciation and impairment
• Use of materiality and "more likely than not"
• New and proposed FASB guidance, including the FASB Simplification Initiative
• The impact of COVID-19

Lunch
12:25 – 1:10 PM

Business Combinations & Dispositions
1:10 – 2:10 PM
To ensure financial statement compliance, financial professionals must possess a firm grasp of the rules for business combinations and consolidations. This session will discuss the latest developments in accounting for business combinations and dispositions, specifically:
• Financial statement impacts of the business combination rules
• Accounting, valuation and disclosures for noncontrolling interests, and those under common control
• Accounting for acquisitions
• Goodwill and other intangible assets
• Consolidation requirements (ASC 810), including triggers for Variable Interest Entities
• Pushdown accounting

Break
2:10 – 2:15 PM

Non-GAAP Measures 
2:15 – 3:15 PM
While the SEC's non-GAAP measures and metrics have been around for some time, they still cause headaches for businesses when it comes to disclosures and financial statements. In this session, we will address how companies are currently applying non-GAAP guidance and metrics, and what can be done in response to SEC comment letters to avoid costly fines and penalties. Topics include:
• Non-GAAP Measures & KPIs
• SEC Staff Guidance
• Recent Comment Letter Trends

Break
3:15 – 3:20 PM

Hedge Accounting 
3:20 – 4:35 PM
Hedge accounting is a complex financial reporting topic. This session will analyze the effects of fair value, cash flow, and hedge accounting on financial statements and cover areas of interest such as:
• Identifying the basic characteristics, risk management strategies and accounting requirements for
  derivatives
• Developing a conceptual accounting and reporting framework for financial instruments under ASC 815
  (FAS 133)
• Expected changes to ASC 815
• Understanding embedded derivatives and bifurcations
• Effectiveness testing approaches

Closing Remarks
4:35 – 4:45 PM

DAY TWO AGENDA

Welcome & Opening Remarks
8:45 – 9:00 AM

ESG & Financial Reporting
9:00 – 10:45 AM
Market, investor, and key stakeholder driven interests have now given way to formal regulation of required reporting of sustainability and ESG formatted information with expanded requirements under strict deadlines. In this session, we will discuss the recently approved SEC rule from March 6, 2024 regarding climate-related disclosures that actually lags behind the timing requirements of the Corporate Sustainability Reporting Directive (CSRD) and California Rules 253 and 261. The final SEC rule applies to registrants depending on their size and scope of operations. Both CSRD and the California rules go further than the final SEC rule in terms of scope of the information being required to be reported and assured by an independent third party. This session will focus on::
• Complying with the final approved SEC rule, Corporate Sustainability Reporting Directive (CSRD) and
  California Rules 253 and 261
• The practical considerations in implementing the approved rules and directives, and complying with
  multiple regulations
• The new Climate-related financial statement footnote and SOXification of it
• How to prepare for the Assurance Reports by an Independent Third Party
• The importance of the Internal Control over Sustainability Reporting (ICSR)

Break
10:45 – 11:00 AM

Accounting for Software Costs
11:00 AM – 12:15 PM

Lunch
12:15 – 1:00 PM

Accounting for Digital Assets
1:00 – 2:00 PM
The FASB issues ASU 2023-08, Intangibles—Goodwill and Other—Crypto Assets ("ASU") in
December 2023. In this session, an expert will discuss:
• Overview of the ASU
* Types of Crypto Asset Transactions
• Accounting Considerations on Certain Crypto Assets
   – Investment in Cryptocurrencies
   – Receipt of Cryptocurrencies in Exchange for Goods or Services
• Staff Accounting Bulletin No. 121 ("SAB 121")

Break
2:00 – 2:05 PM

AI & Corporate Accounting
2:05 – 3:05 PM
Artificial Intelligence (AI) has already begun to make a profound impact on the compliance landscape, and there is no reason to expect that to slow down any time soon. With the challenges presented by regulatory compliance looming over publicly listed companies, AI has emerged as an encouraging and dependable tool to help companies efficiently and timely fulfill their compliance requirements. In this session, we will delve into the details of how to get your company onboard with the advancements that AI is offering in order to take advantage of the vast benefits and potential it offers.

Break
3:05 – 3:10 PM

Frequently Encountered Accounting Topics
3:10 PM – 4:45 PM
This session will focus on complex and challenging accounting and financial reporting topics that are frequently encountered by financial professionals serving public companies, including:
• Segment Reporting
• Risk Factors—Climate Change Matters
• Revenue Recognition
• Exhibits, Signatures & Agreements
• Contingencies
• Revenue Recognition
• Inventory & Cost of Sales
• Income Taxes
• Acquisitions & Business Combinations
   – Statement of Cash Flows
   – Supplier Finance Programs
   – Environmental Credit Programs
   – Lease Accounting: Ongoing Issues

Closing Remarks
4:45 – 4:50 PM

Conference Ends
4:50 PM