Annual FASB Update and Review (FUR4)

Overview

You could pay $0 for this course!

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, including recently released ASUs. Specifically, the course will review recently issued FASB standards on leases and provide an update on ASC 842 and ASC 326 post-implementation items and other hot button accounting issues, such as what is on the FASB's technical agenda. This course is the place to go for a succinct but thorough update on the big topics impacting financial accounting and reporting.

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-13036. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

Private company standard setting activities Recent FASB Accounting Standards Updates (ASUs), including those addressing crypto assets (i.e., cryptocurrency) Topic 842, Leases ASC 326: CECL

Prerequisites

Experience in financial accounting and reporting

Designed For

Practicing CPAs and their staffs, both in public accounting and business and industry, as well as controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review

Objectives

Be aware of recent private company standard setting activities Review the latest FASB Accounting Standards Updates (ASUs) Understand the recently implemented lease accounting guidance found in Topic 842, Leases Recall key provisions of recently issued FASB Updates Understand the key provisions and updates to Topic 326, Current and Expected Credit Losses (CECL)