Accounting Update: A Complete Review of Key New Pronouncements Self-Study Webinar (5 Hours)


Are you looking for a high-level 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 will explain how to:

  • Apply the latest rules to your company’s financial statements
  • Implement recent FASB codification updates
  • Anticipate future developments

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. You’ll also gain an understanding of how the FASB’s convergence projects with the IASB impact new guidance. This self-study webinar will also provide a review of the latest SASs.

  • Overview of revenue recognition: recent interpretations
  • FASB Exposure Drafts, projects and proposals
  • Leases—adopting the New Standard
  • Financial instruments, credit losses, and extinguishment of debt
  • Financial statement presentation, including cash flows and comprehensive income
  • Business combinations and consolidations, including:
    – Push down accounting
    – Clarifying the definition of a business
  • Changes to impairment of goodwill and intangible assets with indefinite lives
  • FASB Simplification Initiative
    – Deferred tax, inventory measurement
    – Development stage entities, classification of debt on the balance sheet and more

• Recognize the timing alternative when testing for goodwill impairment as described in ASU 2021-03

• Identify the practical expedient for transitioning to the new leasing standard under ASU 2018-01

• Identify the narrow-scope improvements for lessors under ASU 2018-20

• Identify the relief given to lessors holding variable lease payments when transitioning to the new leasing standard under ASU 2019-01

• Recognize the codification improvements to credit losses under ASU 2019-04

• Recognize the targeted transition relief within ASU 2019-05 when transitioning to the CECL model

• Identify the target audience of reference rate reform under ASU 2021-01

• Recognize accounting changes applicable to convertible instruments and contracts in an entity’s own equity under ASU 2020-06

• Recognize the codification improvements to Subtopic 310 under ASU 2020-08

• Recognize the effect of ASU 2019-02 on accounting for income taxes

• Identify the goal of accounting for hedging activities under ASU 2017-12

• Identify the options given to private companies when accounting for variable interest entities under ASU 2018-17

• Identify the primary issue in the accounting for initial franchise fees for nonpublic entities addressed in ASU 2021-02

• Recognize the characteristics of a reasonable application of a reasonable valuation method when determining the current price input of a share option as described in ASU 2021-07

• Recognize the options available to a lessee that elects to use a risk-free discount rate under ASU 2021-09




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: