Accounting for Financial Instruments: Making Sense of the FASB’S New Guidance on Impairment, Hedging, and Financial Assets and Liabilities (Z1-AFI4-SSWC)

With the recent completion of its financial instruments project, the FASB has made some significant changes to how an entity accounts for many of its financial instruments. While the effective date for ASU No. 2016-01 is now behind us, new guidance on impairment – including its application to accounts receivable balances (ASU No. 2016-13), hedging (ASU No. 2017-12), as well as updates to guidance on marketable equity securities will challenge all entities, not just those in the financial services industry. This means you. In this course, we’ll review the new guidance in each of these areas and how it varies from existing guidance in these key areas. Specifically, we’ll review the details of the new Current Estimate of Credit Losses (CECL) model will impact applicable assets, including A/R balances. Next, we’ll discuss what’s changed in hedge accounting and how these changes may make hedging transactions more appealing to smaller entities. Lastly, we’ll explore the recent updates to the accounting guidance on equity securities. As almost all entities have some financial instruments that are within the scope of one or more of these new Updates, now is the time for you to get up to speed on this significant new guidance.

DESIGNED FOR

Practicing CPAs and their staff, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review.

BENEFITS

HIGHLIGHTS

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in financial accounting and reporting.

ADVANCE PREPARATION

None