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
• Crypto Asset Disclosures
• Improvements to Income Tax Disclosures
• Current FASB Projects
• Environmental Credits
• Government Grants
• Hedge Accounting Improvements
• Derivatives—Scope Refinements
• Exposure Documents (EDs)
• Emerging Issues Task Force (EITF) 

Break
10:00 – 10:05 AM

ASC 820: The Valuation Process: Approaches, Techniques & Methods
10:05 – 11:20 AM
This session will cover:
• An Overview of the Valuation Process and Basics of Value Calculations
• Types of Value—Market, Enterprise, and Equity
• Income Approach to Value
• Developing a Conclusion of Value
• Goodwill and Intangible Asset Impairment Testing
• Long-lived Assets Under ASC 360
• ASC 350 Goodwill and Indefinite-lived Intangible Asset Impairment Testing

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:
• Order of Impairment Testing
• Long-lived Assets
• Finite-lived Intangible Assets
• Indefinite-lived Intangible Assets
• Goodwill
• Reporting Units
• Financial Reporting Considerations Related to 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, specifically:
• Accounting, Valuation and Disclosures for Noncontrolling Interests
• Accounting for Acquisitions
• Common Challenges
• Goodwill and Other Intangible Assets
• Acquisition-related Costs
• Pushdown Accounting
• ASC 805 Disclosure Requirements

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 and KPIs
• SEC Staff Guidance
• Recent Comment Letter Trends
• Segment Reporting and Measures

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
• Types of Hedges
   – Fair value
   – Cash flow
   – Net investment
• Designating Qualifying Relationships
• Applying ASC 815
• Required Documentation
• Foreign Currency Hedges

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 Rules
• Corporate Sustainability Reporting Directive (CSRD)
• European Sustainability Reporting Standards (ESRS) Requirements and Disclosures
• California Climate Legislation—SB 253, SB 261, and AB 1305

Break
10:45 – 11:00 AM

Accounting for Software Costs
11:00 AM – 12:15 PM
Businesses today rely heavily on software to remain competitive and productive. While the consistent developments and variety offered by modern software is vital for growth, accounting for software continues to present a challenge. In this session, we will discuss:
• Software Development Costs
• Differences Between ASC 985-20 and ASC 350-40
• External vs. Internal Use Software
• Implementation Costs for Cloud Computing Arrangements
• FASB Software Cost Project

Lunch
12:15 – 1:00 PM

Accounting for Digital Assets
1:00 – 2:00 PM
The FASB issued 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 accounting 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:
• Use of Non-GAAP Measures
• Segment Reporting
• Risk Factors—Climate Change Matters
• Revenue Recognition
• Fair Value Measurements
• Asset Impairment
• Goodwill
• Contingencies
• Revenue Recognition
• Inventory and Cost of Sales
• Income Taxes
• Going Concern
• Business Combinations
• Cryptocurrency

Closing Remarks
4:45 – 4:50 PM

Conference Ends
4:50 PM