FASB Made Simple-Review for Industry

Description

This program discusses FASB topical issues that are relevant to CPAs, accountants, and other financial professionals in industry. We will cover accounting and disclosure requirements that apply to all industries. The program is continually updated based on the issuance of recent Accounting Standard Updates (ASUs) and includes implementation guidance for more complex topics.

Highlights

FASB Update,

• Revenue Recognition-Topic 606,
• Lease Accounting-Topic 842,
• Financial Instruments-Topics 320, 321, and 326,
• Fair Value-Topic 820,
• Goodwill and Asset Impairments-Topics 350 and 360,
• Consolidation Accounting (including Variable Interest Entities)-Topic 810,
• Definition of a Business-Topic 805,
• Business Combinations-Topic 805,
• Accounting for Income Taxes-Topic 740,
• Accounting for Debt-Various topics,
• Practice Problems Preparing a Statement of Cash Flows-Topic 230,
• FASB Simplification Initiatives-Various topics

Objectives

Participants will be able to:

• Apply new accounting ASUs issued within the prior 18 months,
• Apply the accounting and disclosure requirements for various accounting topics with an industry focus,
• Identify implementation guidance associated with areas of complexity,
• Develop more confidence in dealing with GAAP accounting issues

Designed For

CPAs, accountants, and financial professionals in industry.