Event Description

Recently updated to include discussion of new FASB standards on revenue, leases, and measurement of financial instruments, this course is designed for small and medium-sized business practitioners and their staff, whether in public accounting or business and industry, and will provide you with a comprehensive review of recent FASB accounting and reporting matters most relevant to smaller companies including: Private Company Standard Setting activities; Accounting Standards Updates (ASUs) recently issued and the FASB’s current technical agenda; Revenue Recognition; Lease Accounting; and new ASUs dealing with financial instruments. Plus, the course will discuss such hot topics as cyber-security and enterprise risk management. Examples and illustrations provide hands-on application to help you assess and implement the new standards and guidance applicable to your practice and clients.

Designed For

Small and medium-sized practicing CPAs and their staffs, both in public accounting and business and industry, controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review

Objectives

• Be familiar with recent private company standard setting activities
• Review recently issued FASB Accounting Standards Updates as they relate to small and medium-sized businesses
• Understand the impact of implementing FASB’s new revenue recognition standard
• Review the FASB’s recently issued lease accounting standard
• Understand the changes coming with the FASB’s new financial instruments standards
• Be aware of other important practice matters
• Utilize hands-on examples and illustrations to increase your overall understanding and application of the material

Major Subjects

• Private company standard setting activities
• FASB Accounting Standards Updates (ASUs) relevant to smaller businesses
• Revenue recognition implementation guidance
• Lease accounting implementation guidance
• Overview of recent FASB Updates on financial instruments
• Other important practice matters to practitioners who serve small and medium-size businesses, including cybersecurity and technology trends

Prerequisites

Experience in financial accounting and reporting

Instructions

None