Overview

8.0 Credits
ONLINE

Recently updated to include discussion of new FASB standards on leases, financial instruments, and other recent FASB pronouncements, this course is designed for small and medium-sized business practitioners and their staff, whether in public accounting or business and industry. The course will provide you with a comprehensive review of recent FASB accounting and reporting matters most relevant to smaller companies including: Private Company Standard Setting activities; Accounting Standards Updates (ASUs) recently issued and the FASB’s current technical agenda; Lease Accounting; new ASUs dealing with financial instruments; and a discussion of lessons learned on maintenance best practices related to Topic 606 on revenue. Lastly, the course will review the implementation of other recent ASUs, with a focus on practical and efficient implementation of these new standards.

Objectives

  • Be familiar with recent private company standard setting activities
  • Review recently issued FASB Accounting Standards Updates that relate to small and medium-sized businesses
  • Review the FASB’s recently issued lease accounting standard
  • Understand the changes coming with the FASB’s new financial instruments standards
  • Be aware of other important practice matters
  • Utilize hands-on examples and illustrations to increase your overall understanding and application of the material

Major Topics

  • Private company standard setting activities
  • FASB Accounting Standards Updates (ASUs) relevant to smaller businesses
  • Revenue recognition implementation guidance
  • Lease accounting implementation guidance
  • Overview of recent FASB Updates on financial instruments

Prerequisite

Experience in financial accounting and reporting

Advanced Preparation

None

Sessions

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Thursday, August 20, 2020

General Sessions
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