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Accounting Update: New GAAP Requirements and Related Issues (SMAA28/22)

Event Description

Both public and private CPAs must be current on changes to various potentially relevant accounting and financial reporting standards, including U.S. GAAP. This module provides recent and proposed changes to relevant technical standards most relevant to the preparation and fair presentation of current period financial statements.

Designed For

Anyone with responsibilities for accounting or financial reporting, including attest providers.

Objectives

  • Discuss changes to accounting and financial reporting that have current period impact 
  • Explain accounting or financial reporting matters on the horizon meriting attention in the short-term
  • List commonly misapplications when implementing recent standards
  • Discuss how the current environment has created accounting and financial reporting challenges

Major Subjects

  • U.S. GAAP accounting standards updates that have recent or current period effective dates for public and nonpublic entities
  • Common implementation issues faced with recently effective standards
  • Accounting standards with future effective dates, many of which may be early adopted
  • Impact of the current environment on the preparation and fair presentation of financial statements