Accounting & Auditing Update: A Complete Review of Key New Pronouncements Self-Study Webinar (11 Hours)

Overview: 

Are you looking for a comprehensive update on the most recent changes to US financial reporting? This self-study webinar will bring you up to date on the latest FASB pronouncements, and answer all of your questions about:

  • Applying the latest rules to your company’s financial statements
  • Implementing recent FASB updates
  • Anticipating future developments
  • Lease accounting
  • SPACs
  • Auditing updates
  • Identifying COVID-19 issues
     

 

 
Objective: 

To update financial professionals on the latest developments in financial reporting from the FASB. You’ll learn how to apply all the most recent pronouncements effectively and efficiently, and get an overview of the latest SASs and other current auditing issues.

Emphasis: 
  • Accounting Standards
    - ASUs Effective in 2021 &
      Beyond
      - Topic 350:Goodwill
      - Topic 842: Leases
      - Topic 326: Current Expected
         Credit Losses

      - Topic 815: Reference Rate
         Reform—LIBOR Transition

      - Topic 321: Investments
      - Topic 260: Equity Transactions
      - Subtopic 470-20: Convertible
         Instruments & Debt

      - Topic 805: Business Combi-
         nations & Collaborative
         Agreements

      - Topic 832: Government
         Assistance

      - Topic 740: Accounting for
         Income Taxes

      - Topic 815: Hedge Accounting
      - Topic 944: Insurance Contracts
      - Subtopic 715-20: Benefits
         Plans

      - Topic 810: Variable Interest
         Entities

      - Codification Improvements
      - Topic 470: SEC Items
      - Topic 606: Non-Public
        Company Issues

      - Subtopic 350-40:
        Cloud Computing
      - Subtopic 926-20: Movie & TV
        Issues

      - Topic 805: Not-for-Profit
         Entities
  • Proposed Accounting Standards Update
    - Interim reporting
    - FV measurement of equity
      securities
    - Supplier finance programs
    - Deferral of sunset date
  • Proposed ASUs Cancelled
    - Simplifying the classification of
      debt
  • FASB Projects
  • Non-GAAP Measures
    - IPOs
    - SEC comments and prohibitions
    - Center for Audit Quality (CAQ)
      guidance
    - SEC Chief Accountant
      comments
  • Climate Change Accounting & Disclosure Proposals
    - Creation of the ISSB
    - SEC’s proposed climate rule
  • Leases
    - Lease Capitalization Process
  • Special Purpose Acquisition Companies (SPACs)
  • Auditing Update
    - Statements on auditing
       standards
    - Auditor lease issues

• Identify the effective date of specified ASUs

• Identify the recent ASU simplification efforts applicable to goodwill impairment testing found in ASU 2021-03 

• Recognize the industry most likely to avail itself of the lease accounting practical expedient introduced by ASU 2018-01

• Identify the lease accounting targeted improvements found in ASU 2018-11, ASU 2019-01, and ASU 2021-05

• Recognize the effect and scope of ASU 2016-13 on recognition of credit losses

• Identify the codification improvements to credit losses under ASU 2019-04 and ASU 2019-11

• Identify the result of ASU 2020-06 on separation models used to account for convertible debt instruments

• Identify the codification improvements made under ASU 2020-03 and ASU 2020-10

• Recognize the characteristics of a reasonable application of a reasonable valuation method under ASU 2021-07 

• Identify the discount rate election available to lessees under ASU 2021-09

• Recognize the effect of ASU 2019-02 on accounting for costs of film and license agreements for program materials

• Identify mandatory disclosures for contributed nonfinancial assets applicable to NFPs under ASU 2020-07

• Identify SEC guidance and prohibitions regarding non-GAAP measures

• Recognize the elements of the SEC’s proposed climate rule

• Identify the restrictions on the use of the lease standard’s package of practical expedients 

• Identify the characteristics of a financing lease

• Identify how a lessee’s finance lease payments are shown in income statements and statement of cash flows

• Recognize the accounting implications of a lease modification that does not result in a separate new lease

• Recognize examples of a leases’ initial direct cost recognized in the opening ROU

• Identify the extent to which residual value guarantees must be included within the opening lease liability amount

• Recognize specified characteristics of a SPAC

• Identify SEC concerns with accounting for SPACs 

• Recognize characteristics of recently promulgated SASs

Bottom
Price: 
$199.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
11.00
NASBA Field of Study: 
Accounting