Designed for practitioners and their staff, whether in public accounting or business and industry, this course provides an overview of recent FASB accounting and reporting developments. The course begins by reviewing recent Private Company Council (PCC) activities and recently issued Accounting Standards Updates (ASUs), analyzing guidance that has a major effect on all industries, including those covering revenue recognition and leases. Special attention is given to standard setters' activities that affect small- and medium-sized entities. Examples and illustrations provide hands-on application to help you assess and implement the new standards and guidance applicable to your practice and clients.

Major Topics:

  • Private company standard setting activities
  • Recent FASB Accounting Standards Updates (ASUs)
  • Revenue Recognition – ASU No. 2014-09, Revenue from Contracts with Customers
  • Leases

Learning Objectives:

  • Be aware of recent private company standard setting activities
  • Review the latest FASB Accounting Standards Updates (ASUs)
  • Understand and apply the FASB’s comprehensive new Revenue Recognition standard – ASU No. 2014-09, Revenue from Contracts with Customers
  • Know where we stand regarding lease accounting

Designed For: Practicing CPAs and their staffs, both in public accounting and business and industry, controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
Level of Knowledge: Intermediate
Prerequisite: Experience in financial accounting and reporting
Advanced Preparation: None
Credits: 4