Annual FASB Update and Review

This course provides a detailed discussion on the key topics related to financial reporting, though in a summarized format. The course will focus on recent ASUs issued by the FASB with a concentration on issues of greatest significance to most accounting practitioners. Specifically, the course will review recently issued FASB standards on leases and provide an update on the status of ASC 842 implementation and other hot button accounting issues, such as what is on the FASBs technical agenda. This course is the place to go for a succinct but thorough update on the big topics impacting financial accounting and reporting.

Learning Objectives:

- Be aware of recent private company standard setting activities

- Review the latest FASB Accounting Standards Updates (ASUs)

- Understand the new lease accounting guidance found in Topic 842, Leases

- Recall the applicability of ASC Topic 326 to accounts receivable balances

- Recall key provisions of recently issued FASB Updates

Major Topics:

- Private company standard setting activities

- Recent FASB Accounting Standards Updates (ASUs)

- Topic 842, Leases

- Topic 326 on Impairment

- Lessons learned and sustainment efforts related to Topic 606

This virtual seminar is being offered through our partnership with Midwest State CPA Societies. You will launch from your MyOSCPA learning center day of and be prompted to enter in name and state society at time of entering.