Surgent's FASB Update for Small and Medium-Sized Businesses: A Practical Implementation Guide Download

Overview

This course provides a detailed discussion on the key topics related to financial reporting. The course will focus on all 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, financial instruments, and provide an update on the status of ASC 606 implementation and other hot button accounting issues. This course will also provide you with a comprehensive review of recent Private Company Standard-Setting activities and what is on the FASB's technical agenda. Lastly, it will cover any accounting implications of current events, such as COVID-19 stimulus legislation and other tax-law changes.

This course is the place to go for a detailed understanding of all the goings on at the FASB.

Prerequisites

Experience in financial accounting and reporting

Objectives

• Be familiar with recent private company standard setting activities
• Review recently issued FASB Accounting Standards Updates that relate to small and medium-sized businesses
• Review the FASB’s recently issued lease accounting standard
• Understand the changes coming with the FASB’s new financial instruments standards
• Be aware of other important practice matters
• Utilize hands-on examples and illustrations to increase your overall understanding and application of the material

Highlights

• Private company standard setting activities
• FASB Accounting Standards Updates (ASUs) relevant to smaller businesses
• Revenue recognition implementation guidance
• Lease accounting implementation guidance
• Overview of recent FASB Updates on financial instruments