FASB Hot Topics Self-Study Webinar (10 Hours)

Overview: 

Some FASB pronouncements remain burning issues for years while others fade quietly into obscurity. This self-study webinar 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 employee compensation plans
  • Understand the consolidation requirements for variable interest entities
  • Get an update on recent leasing guidance
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 leases, stock-based and other employee compensation plans, and business combinations and consolidations.

Emphasis: 
  • Business combinations (ASC 805)
    – Consolidations
    – Clarifying the definition of a business
    – Push down accounting
    – Fair value and FAS 141R
    – Variable interest entities and control (ASC 810)
    – Interests by related parties under common control
    – Intangibles, goodwill and impairment testing
    – Equity method, including recent FASB changes
  • Share-based payment plans and other employee benefit plans
    – Overview and objectives
    – Valuation methodologies
    – Tax implications
    – Disclosure requirements
  • Lease accounting—summary and adoption of new guidance
    – Comparison of old and new standards
    – Lessee vs. lessor treatments
  • FASB Simplification Initiative

Recognize the role of the Private Company Council in developing GAAP

Recognize the characteristics of the FASB’s Simplification Initiative

Identify the characteristics of the FASB’s codification improvements

Identify the general rules for lease classification under existing FAS 13

Identify the impact of the New Lease Standard on the financial statements of lessees

Identify the changes to lessor accounting under the New Lease Standard

Identify the appropriate time for the reassessment of lease options

Recognize the lease terms for which the lessee may elect to not recognize the right of use asset or lease liability on the balance sheet

Recognize the implications to sale and leaseback transactions under the New Lease Standard

Recognize the transition requirements and effective dates of new Topic 842

Identify those transactions qualifying as a business combination

Identify the new definition of a business and its application to accounting for assets vs. business acquisitions

Identify a business combination measurement period

Identify the treatment of contingencies in a business combination

Identify general disclosures required with a business combination

Recognize the accounting treatment of a gain or loss on the deconsolidation of a subsidiary

Recognize the accounting treatment of a change in the parent company’s ownership interest in a subsidiary, where control is maintained

Recognize the changes for the accounting for measurement-period adjustments in a business combination under ASU 2015-16

Recognize the changes for the accounting for goodwill impairment under ASU 2017-04

Identify the overall impact of ASU 2015-02 on the accounting for VIEs

Recognize the FASB’s proposed changes to the related party guidance for VIEs

Identify the share-based compensation arrangements falling within the scope of FAS123R

Identify the option pricing model used most often to value stock-based compensation

Recognize the date on which the fair value of stock-based compensation is measured

Identify the option available to nonpublic entities in measuring their share-based compensation awards

Bottom
Price: 
$399.00
Prerequisite: 

Basic knowledge of financial accounting and reporting.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
10.00
NASBA Field of Study: 
Accounting