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FASB Practical Expedient Options Available to Nonpublic Entities (LIAA21/24)

Event Description

The FASB formed the Private Company Council to provide certain alternatives in U.S. GAAP that are only available to nonpublic business entities, with limited exceptions for certain nonprofits.  This course will provide insight into when adopting the accounting and financial reporting alternatives would be to the advantage of private companies.

Designed For

Anyone with accounting, financial reporting, audit, or other attest responsibilities


• Distinguish the recognition, measurement, presentation and disclosure options only available to nonpublic business entities in U.S. GAAP.
• List the benefits of adopting the U.S. GAAP alternatives, and the most advantageous time to do so.

Major Subjects

• Entities that qualify for the practical expedient alternatives 
• Simplified approaches in derivatives, goodwill, valuing stock-based compensation, consolidating variable interest entities, leases, and more!