Annual FASB Update and Review

October 30th, 2023 - October 30th, 2023 @ 9:00am-12:30pm

Credits

Description

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. Specifically, the course will review  recently issued FASB standards on leases and provide an update on the status of ASC 842 implementation and other hot button accounting issues, such as what is on the FASB’s technical agenda. This course is the place to go for a succinct but thorough update on the big topics impacting financial accounting and reporting.

Objectives

Be aware of recent private company standard setting activities    

Review the latest FASB Accounting Standards Updates (ASUs)    

Understand the new lease accounting guidance found in Topic 842, Leases    

Recall the applicability of ASC Topic 326 to accounts receivable balances   

Recall key provisions of recently issued FASB Updates

Major Subjects

Private company standard setting activities    

 Recent FASB Accounting Standards Updates (ASUs)    

Topic 842, Leases    

Topic 326 on Impairment   

  Lessons learned and sustainment efforts related to Topic 606

Prerequisites