Webcast: Classification and Measurements (XCCLME17)
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The FASB and IASB have spent more than ten years attempting convergence. However, efforts have fallen short in classification and measurement, particularly in impairment. Navigate the new guidance; understand differences and similarities between the FASB ASU and the IFRS 9 standard, and the learn about the impacts to the financial reporting of assets and liabilities covered by the guidance.

8/17/2017
When: 08/17/2017
8:30 AM until 4:00 PM
Where: Webcast
CALCPA
4173006B
United States
Presenter: Allen W Plyler


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Acronym XCCLME17
CPE 8 hours
Vendor CalCPA
Category
Accounting & Auditing
Level Overview
Prerequisite None
Adv Prep None
Yellow Book? No
Designed for CPAs who prepare financial statements for clients with financial assets or liabilities, or with equity investments.
Registration
Member $245
CPA Non-Member $375

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

The FASB and IASB have spent more than ten years attempting convergence. However, efforts have fallen short in classification and measurement, particularly in impairment. Navigate the new guidance; understand differences and similarities between the FASB ASU and the IFRS 9 standard, and the learn about the impacts to the financial reporting of assets and liabilities covered by the guidance.

Also, explore the credit loss models under the Current Expected Credit Loss approach; why measurements under incurred loss views were criticized; the new measurement category FVTOCI; and how the reporting of equity investments is impacted. Discuss the FASB hedging changes and how qualification for special accounting is impacted by the implementation of the new guidance.

Materials are provided as an ebook.

Objectives

  • Identify key requirements of the FASB ASU regarding classification and measurement and IFRS 9 guidance.
  • Determine impairment measurement under the FASB and IASB models, including single and dual-measurement approach under CECL models.
  • Recognize impacts to hedging of financial instruments.
  • Identify reporting impacts based on classification and measurement guidance in the standards.

Major Topics

  • Accounting
  • Auditing
  • Financial reporting