FAS2
ACCOUNTING STANDARDS UPDATE FOR 2008: WHAT IS HAPPENING AT THE FASB
Objective:
To provide
the CPA with an update on the most recently issued FASB standards. This
review will provide an explanation of the purpose and likely impact of
each standard, together with implementation examples and guidance. Emphasis
will be placed on the impact of these standards on preparers and users
in both large and closely held companies.
Major
topics include:
- The FASB's current
agenda: what is in the pipeline?
- SFAS No. 150 and
the classification compound, and complex equity and/or liability instruments
- SFAS No. 150's
implications for closely held entities -- deferral dates
- SFAS No. 151: Inventory
costs and spoilage
- SFAS No. 153: Exchanges
of non-monetary assets
- Exposure Draft
on fair-value measurement
- SFAS No. 123(R):
Stock Options and Share-Based Payment
Designed
for: Accountants in public practice and
industry whose work is impacted by newly issued and forthcoming accounting
standards, as well as those who need to advise clients about meeting requirements
caused by those standards
Level
of knowledge: Update
Field
of study: Accounting
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