The course will start with the Accounting Standard Updates effective in 2024 for public entities, private entities, and nonprofits. We will also review year 2 implications of the leases standard including modification accounting. We will then switch our attention to the items coming down the pike, including a look at the projects identified by the FASB's Invitation to Comment: Agenda Consultation.
Learning Objectives:
- Identify the impact of ASUs that are effective in 2024 on financial reporting
- Recall changes to the conceptual framework
- Describe the impact of the lease modification on financial reporting
- Identify FASB ASUs that will be effective after 2024
- Recognize the potential impact of key projects on the FASB agenda