Early Bird Fees (through 10/16)
After 10/16, add $50 to your fee.
CPE: 8 hours
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.
- 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
- 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