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
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.
-
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
• Recognize the definition of fair value
• Recognize the categorizations of debt securities within GAAP
• Recognize HTM and AFS impairment testing methodology
• Recognize the amount of a security’s OTTI that should be recognized in earnings
• Identify the accounting implications an entity holding a debt security with OTTI that the entity intends to sell prior to recovery of the OTTI
• Identify the accounting implications an entity holding a debt security with OTTI that the entity does not have the ability to hold until recovery of the OTTI
• Identify whether or not an HTM or AFS debt security is other-than-temporary
• Identify the rule-of-thumb distinguishing which underwater securities will generate cash flow equal to amortized cost basis
• Recognize the impairment testing implications of having third-party management of an investment portfolio
• Recognize the differences between Types 1, 2, and 3 events in the context of impairment testing
• Identify disclosure requirements for AFS and HTM debt securities prior to the effective date of ASU 2016-13
• Recognize the accounting changes for debt and equity securities under ASC 2016-01
• Identify the accounting treatment of equity instruments that do not have readily determinable FV and don’t qualify for the existing NAV practical expedient in ASC 820
• Identify the accounting treatment of financial liabilities using the FV option of ASC 825
• Identify the presentation and disclosure requirements of public entities under ASU 2016-01
• Recognize the codification placement of the new CECL impairment model introduced with ASU 2016-13
• Recognize the rationale behind, and the scope of, the CECL impairment model
• Recognize the overall methodology of impairment loss recognition under ASU 2016-13
• Recognize the effective date of the new credit loss standard
• Identify the implementation considerations of the new credit loss standard
• Identify the subsequent measurement implications of the CECL model
• Identify the accounting treatment of purchased credit deteriorated assets under ASC 2016-13
• Recognize the implications of collateral on the CECL model
• Identify the reporting requirements of the CECL model
• Identify the applicability of the CECL impairment model to receivable and revenue recognition under ASC 606
• Recognize the post ASU 2016-13 accounting treatment of AFS debt securities with an OTTI
• Identify the general implication of ASU 2016-13 on disclosures