Recent Developments at the FASB & IASB in Response to COVID-19 Self-Study Webinar (2 Hours)


In response to the COVID-19 pandemic, the FASB and IASB have been busy implementing new guidelines, revising effective dates, and updating standards to assist businesses and financial professionals during this time of economic crisis. This critical new self-study webinar will allow you to:

  • Develop an understanding of the technical accounting issues and expedients that are currently available
  • Understand how guidance currently delayed and under development—as well as recently issued—will impact existing accounting standards
  • Recognize key financial reporting considerations in respect to COVID-19

    ...and much more.


To update financial professionals on recent developments, best practices and strategies from the FASB and IASB for dealing with the financial accounting and reporting issues stemming from the COVID-19 pandemic.

  • FASB Technical Agenda
    – Framework projects
    – Revenue recognition and measurement
    – Proposed accounting standard update: distinguishing liabilities from equity (including convertible debt)—current vs. proposed models
    – Identifiable intangible assets and subsequent accounting for goodwill
    – Disclosure, presentation and research projects
  • Select New Standards for Calendar Year 2020
    – ASUs effective for calendar year-end public companies
    – Accounting standards updates
       – Reference Rate Reform (Topic 848) (ASU 2020-04)
       – Codification Improvements to Financial Instruments (ASU 2020-03)
       – Financial Instruments Credit Losses (Topic 326) and Leases (Topic 842) (ASU 2020-02)
       – Fair Value Measurement—Disclosures (ASU 2018-13)
       – Postretirement Disclosures by Sponsors (ASU 2018-14)
       – Cloud Computing Arrangements (ASU 2018-15)
       – Consolidation: Improvements to Related Party Guidance for Variable Entities (ASU 2018-17)
       – Collaborative Arrangements: Interaction of ASC 808 and ASC 606  (ASU 2018-18)
  • Revised Effective Dates – “Two Bucket” Approach
    – CECL, leases, hedging and long-duration insurance: how effective dates will change
  • Recently Issued Exposure Documents (EDs)
    – Proposed Accounting Standard Updates:
       – Derivatives and Hedging
       – Not-for-Profit Entities (Topic 958)
  • Impact of COVID-19
    – Revised effective dates
    – Impact of CARES Act
       – Key provisions
       – Taxes
       – Government loans, investments and grants
       – Deferral of certain loan accounting and ASC 326
       – Revenue recognition (healthcare and life science entities)
       – FASB staff clarifications for lease concessions and other effects
       – Accounting impact of COVID-19
       – Appropriate use of non-GAAP measures
       – SEC reporting delays
  • SEC Select Projects
    – Select SEC projects
    – Definition of accelerated filers
  • Other FASB and IASB Topics
    – Transition from LIBOR and other reference rates
    – Reference Rate Reform (Topic 848)
    – Brexit update—impact on financial reporting

Identify the stage of specified items on the FASB’s technical agenda

Recognize arguments both for and against change to the current goodwill impairment model

Recognize the FASB’s new “two bucket” approach to major standard’s effective dates

Identify the private entity current effective date for the Lease Standard after a COVID-19 delay

Recognize the trigger for providing footnote disclosure regarding going-concern uncertainties

Identify the optional effective date for the CECL standard after a COVID-19 delay

Identify the optional accounting treatment available for COVID-related rent concessions

Recognize the concessions granted to filers regarding the use of non-GAAP measures during the COVID pandemic per SEC staff guidance

Identify the recent SEC changes to the definition of accelerated and non-accelerated filers




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: