CPE: 8 hours
Category: Accounting & Auditing
Prerequisites: Knowledge of financial reporting.
Advanced prep: None
Who should attend: CPAs, practitioners, industry financial professionals and educators.
With the use of new GAAP for private companies in the early implementation stages, we can expect approval of IFRS for public companies and the potential revision of financial statement presentation for all companies sometime beyond 2016.
Gain critical insight into the future of private company reporting and the choices that must be made regarding available reporting options.
All CPAs, practitioners, members in industry and educators need to be aware of these critical and pending events that will dramatically shift the accounting environment, as the immediate areas of concern extend beyond simple accounting changes.
Upon completion of this course, participants will be able to identify:
- IASB's structure;
- the major differences between IFRS for SMEs and U.S. GAAP; and
- the current proposal for private company reporting in the United States.
- History of private company accounting in the U.S.
- U.S. GAAP proposals for private companies
- Differences between IFRS for SMEs and U.S. GAAP
- Financial reporting decisions for nonpublic companies
- Business issues impacted by these pending changes