Review of Recent GAAP Webinar

Overview: 

This continually updated webinar is designed for the accountant who wants to keep abreast of the latest rules and regulations affecting financial accounting and reporting. You’ll:

  • Discover how the latest pronouncements affect your company or clients
  • Benefit from an analysis of emerging developments
  • Get a sneak preview of where the standard setters are heading
Objective: 

To familiarize participants with the accounting and reporting requirements of recent pronouncements. This webinar reviews the current activities of the standard setters and the expected impact on current and future accounting and reporting.

Emphasis: 
  • Revenue recognition: ASU 2014-09—what it means, what it changes, recent updates, transitional guidance and where we go from here
  • FASB shifts in focus and recent releases
  • International convergence: status, differences and changes and IFRS for SMEs (Small and Medium-Sized Entities)
  • Private company reporting, including the AICPA Financial Reporting Framework for SMEs and the PCC (Private Company Council)
  • Fair value update, including OTTI, receivables, valuations and troubled debt restructuring
  • Leases: FASB/IASB
    project—decisions, differences and pronouncements
  • Recent FASB pronouncements, exposure drafts and current projects
    – Financial instruments, FX and hedging
    – Defined benefit, defined contribution and multi-employer pension plans
    – Combinations and consolidations and push down accounting
    – Impairment testing for goodwill and intangible assets with indefinite lives
    – Going concerns: liquidation basis, risks and uncertainties
    – Financial statement presentation: offsetting assets and liabilities, comprehensive income and disclosures
    – Industry-specific issues
  • FASB Simplification Initiative
    – Deferred taxes, debt issue costs, inventory measurement and share-based accounting
    – Extraordinary items, development stage entities and employee benefit plans
    – Balance sheet classification of debt and more
  • SEC reporting: recent developments, enforcement issues and hot topics
Bottom
Prerequisite: 

Basic knowledge of financial accounting and reporting.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
8.00
NASBA Field of Study: 
Accounting