Review of Recent Developments at FASB (RFAD)

Pre-requistes:

Experience in financial accounting and reporting

Knowledge Level:

Intermediate

Major Topics:

• Lessons learned and sustainment efforts related to Topic 606
• COVID-19 accounting implications
• Recent FASB Accounting Standards Updates (ASUs)
• Private company standard setting activities
• Topic 842, Leases

Learning Objectives:

• Recently issued FASB Accounting Standards Updates (ASUs)

• An overview of the FASB’s comprehensive lease accounting guidance found in ASU No. 2016-02, Leases (Topic 842).

• The FASB’s financial instruments guidance relating to credit losses, ASU No. 2016-13;

• Key elements of the ASC 326 models; and

• Presentation, transition, and disclosure guidance under ASC 326.

Designed For:

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