This course provides a detailed discussion on the key topics related to financial reporting, though in a summarized format. The course will focus on recent ASUs issued by the FASB with a concentration on issues of greatest significance to most accounting practitioners, with the greatest emphasis on those ASUs effective in 2024 and 2025. Specifically, the course will review recently issued FASB standards on disaggregated expenses, cryptocurrency (e.g., crypto assets), and the final stages of the ASC 606 post-implementation review (PIR) report findings and other hot-button accounting issues, such as what is on the FASB’s technical agenda. Lastly, we will provide an overview of non-GAAP financial measures disclosed by companies and review the current SEC and IFRS guidance over such measures and their disclosure.
DESIGNED FOR
Practicing CPAs and their staffs, both in public accounting and business and industry, as well as controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
BENEFITS
- Be aware of recent private company standard setting activities
- Review the latest FASB Accounting Standards Updates (ASUs)
- Understand the recently implemented lease accounting guidance found in Topic 842, Leases
- Recall key provisions of recently issued FASB Updates
- Understand the key provisions and updates to Topic 326, Current and Expected Credit Losses (CECL)
HIGHLIGHTS
- Private company standard setting activities
- Recent FASB Accounting Standards Updates (ASUs), including those addressing crypto assets (i.e., cryptocurrency
- Topic 842, Leases
- ASC 326: CECL
PREREQUISITES
Experience in financial accounting and reporting
ADVANCE PREPARATION
None