Webcast: Recently Issued U.S. GAAP - What Small/Mid-Size Nonpublic Entity CPAs Need to (XSGAAP619)
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New Accounting Standards Updates (ASUs) related to U.S. GAAP are issued on a regular basis. It can be time-consuming and confusing to keep up-to-date on the resulting impact on financial statements and disclosures, especially when many changes relate primarily to public business entities, larger companies, or specific industries. This course will focus on explaining the most significant U.S. GAAP updates that are relevant to small- and medium-size private entities.

12/11/2019
When: December 11, 2019
9:00 AM until 11:00 AM
Where: Webcast
Surgent
GAAP-2019-01-WEBNR-345-01
United States
Presenter: Jen Louis, CPA


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Acronym XSGAAP619
CPE 2 hours
Vendor Surgent
Category
Accounting & Auditing
Level Basic
Yellow Book? No
CFP Credit? No
Registration Fees
Members* $89
CPA Non-Members $114

*The member rate applies to LCPA members, other state CPA 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.

Texas CPAs: Our Texas State Board of Public Accountancy Sponsor number is #010423.

Course Description

New Accounting Standards Updates (ASUs) related to U.S. GAAP are issued on a regular basis. It can be time-consuming and confusing to keep up-to-date on the resulting impact on financial statements and disclosures, especially when many changes relate primarily to public business entities, larger companies, or specific industries. This course will focus on explaining the most significant U.S. GAAP updates that are relevant to small- and medium-size private entities.

Objectives

  • Describe the important accounting policy elections to consider related to Private Company Council (PCC) U.S. GAAP alternatives available to nonpublic entities
  • Discuss the highlights of the ASUs with outstanding effective dates for nonpublic business entities, focusing on the changes most relevant to small and medium-sized nonpublic business entities
  • Explain the possible impact of pending FASB activity most relevant to private companies

Major Topics

  • Private Company Council (PCC) influenced U.S. GAAP alternatives, such as common control leasing arrangements, interest rate swaps and goodwill
  • What nonpublic reporting entities need to do now related to ASU 2014-09 Revenue Recognition
  • The impact of the new ASU 2016-02 Leases, and whether there is anything entities need to do now to prepare for implementation
  • Highlights of other ASUs with open effective dates for nonpublic business entities that have the greatest likelihood of changing the financial statements of smaller entities
  • Significant pending FASB activity related to smaller private businesses

Designed For

Accountants both in public and private practice responsible for preparing or attesting on financial statements and disclosures for nonpublic business entities

Requisite Knowledge:

None

Note: Login instructions will be provided by the webcast vendor (Surgent).