Not Just Your Everyday FASB Update

This course highlights significant updates that affect financial reporting and related attestation services. We will explore novel FASB pronouncements while examining the enduring impact of lease accounting and revenue recognition standards. This course will provide reminders regarding both GAAP and non-GAAP financial reporting alternatives for closely held entities. We will also explore selected guidance regarding audit, review, and compilation engagements.

Learning Objectives:

• Analysis of relevant GAAP provisions

• Reminders regarding the continuing importance of ASC 606 for revenue recognition 

• Fresh perspectives of lease accounting in the wake of ASC 842 implementation

• Overview of U.S. GAAP alternatives for certain entities 

• Summary of selected, salient standards for today’s audit, review, and compilation engagements

Who will benefit: CPAs in public practice or members in industry seeking a current financial accounting and reporting updates with particular emphasis on closely held reporting entities.