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FASB's Big 3: Revenue Recognition, Leases, and Financial Instruments (FSBT15)
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Designed for practitioners in public accounting or business and industry, this course provides a comprehensive review of FASB’s “Big 3” accounting and reporting areas – Revenue Recognition, Leases, and Financial Instruments, which has a major effect on all industries. We’ll focus on recently issued Accounting Standards Updates and Exposure Drafts using examples and illustrations to help you better assess and implement the new standards and guidance applicable to your clients or organization.

11/2/2015
When: 11/02/2015
8:30 AM until 4:30 PM
Where: LCPA Training Facility
2400 VeteranMemorials Blvd
Suite 500
Kenner, Louisiana 
United States
Presenter: Curtis Quickel


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Early Bird Fees (through 10/16)
Members $289
Non-Members $389
After 10/16, add $50 to your fee.

CPE: 8 hours
Level: Intermediate
Vendor: Surgent McCoy CPE
Category: Accounting & Auditing
Prerequisites: Experience in financial accounting and reporting
Advanced prep: None

Who should attend: 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

Sometimes we can avoid addressing the “elephant in the room” for a while. However, when there are three elephants in the room, it is time to address the issues.

Designed for practitioners and their staff, whether in public accounting or business and industry, this course provides a comprehensive review and update of the FASB’s “Big 3” accounting and reporting areas – Revenue Recognition, Leases, and Financial Instruments.

We will focus on recently issued Accounting Standards Updates and Exposure Drafts, covering these critical areas of your practice or organization. We will analyze the Big 3, which has a major effect on all industries, using examples and illustrations to provide a hands-on approach that will help you better assess and implement the new standards and guidance applicable to your clients or organization.

Objectives

  • Understand and apply the FASB’s new revenue recognition standard
  • Review the FASB’s current lease accounting guidance
  • Be familiar with the FASB’s financial instruments project covering classification and measurement, credit impairment, and hedge accounting

Major Topics

  • The FASB’s comprehensive new revenue recognition standard ASU No. 2014-09, Revenue from Contracts with Customers
  • The new five-step principles-based revenue recognition model
  • Revenue presentation, disclosures, and implementation guidance and illustrations
  • Key differences between current U.S. GAAP and the new revenue recognition guidance
  • The FASB’s comprehensive new lease accounting guidance found in proposed ASU Leases (Topic 842): a revision of the 2010 proposed Accounting Standards Update, Leases (Topic 840)
  • Overall lease accounting guidance
  • Lessee vs. Lessor accounting
  • Sale and leaseback transactions
  • The FASB’s proposed ASU Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
  • Classification and measurement
  • Credit impairment
  • Hedge accounting

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Society of Louisiana
Certified Public Accountants

2400 Veterans Memorial Blvd., Suite 500
Kenner, LA 70062-4739

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