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
- Learn about the impact of COVID-19
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.
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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, including special treatment for nonpublic entities
– 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
- The impact of COVID-19
• Identify the IAC proposals for reforming the accounting standard setting process
• Recognize current FASB priority projects
• Recognize the role of the Private Company Council is developing GAAP
• Recognize the future role of the FASB’s codification improvements
• Identify the extent to which the SEC is perceived to have authority over the accounting and reporting of crypto assets
• Identify the primary rules of the FASB’s proposal for accounting for crypto assets
• Recognize the points of emphasis found within the FASB’s proposal for improvements to segment reporting
• Recognize the provisions found within the FASB’s proposal for enhanced income tax disclosures
• Identify what types of cost would be required to be disaggregated under the FASB’s income statement disaggregation project
• Identify transactions qualifying for treatment as a business combination
• Identify the scope of Topic (Topic 805)
• Recognize the parameters of a business combination measurement period
• Recognize the threshold for recognition of a contingency in a business combination
• Identify the disclosure requirements of a business combination
• Identify the basis for recognition of a gain or loss on the deconsolidation of a subsidiary
• Recognize the accounting treatment of a change in the parent’s ownership interest in a subsidiary where control is maintained
• Recognize the required elements of a business under the definition found in the codification
• Identify the options for the recognition of intangibles separate from goodwill in a business combination
• Recognize the implications of accounting for goodwill impairments under ASU 2017-04
• 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