Emerging Issues in Financial Accounting 25-26

Description

Recognize the impact of emerging issues focusing on the current FASB agenda and recently completed projects as well as the accounting standards most likely to be relevant to auditors in today's economic environment. Some topics will necessarily depend upon current events and conditions but core topics are expected to include recently issued standards involving induced conversions of convertible debt, and equity interests issued as compensation by pass through entities. We will discuss the recently issued FASB Staff Educational Paper clarifying guidance on the presentation and disclosure of retainage for construction contractors. Other topics will include activities of the Private Company Council and anticipated updates to the Codification including accounting for government grants, software costs and determining the acquirer in an acquisition of a VIE. Time permitting we many discuss the FASB'S renewed interest in accounting for intangibles. Depending on economic conditions we may also review accounting for going concern disclosures and impairment testing. The course also includes an update on the FASB and PCC agendas.

Highlights

• Become familiar with new financial accounting standards applicable to privately held companies
• Learn about expected updates to the accounting for government grants
• Obtain an update of recent activities of the PCC and why this is relevant
• Review going concern disclosures and impairment testing, as indicated by economic conditions
• Explore FASB's renewed interest in accounting for intangibles

Objectives

• Identify current issues in financial accounting
• Determine how to advise your client on accounting standards
• Prepare for impairment testing as indicated
• Enhance awareness of PCC activities and agenda
• Understand implications for FASB interest in accounting for intangibles

Designed For

Anyone interested in emerging issues in accounting.