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Choose CPE Format:

Live Webinar SELECT STARTING AT $89

Credits: 2

Qualifies For:

$89

Upcoming webinars

December 22, 2016
07:00 pm - 09:00 pm (EST)

Instructor(s): Jen Louis, CPA

January 12, 2017
01:00 pm - 03:00 pm (EST)

Instructor(s): Jen Louis, CPA

February 14, 2017
01:00 pm - 03:00 pm (EST)

Instructor(s): Jen Louis, CPA

See More Upcoming Webinar Dates >

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  • I really enjoyed the course. Ms. Louis was an excellent instructor and explained the changes in easy to understand language.

    - Surgent customer

  • Jen does a great job going thru the materials!

    - Surgent customer

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Recently Issued U.S. GAAP - What Small and Mid-Size Nonpublic Entity CPAs Need to Know and Do Now, Not Later (GAAP)

  • Customer Rating
    Not Yet Rated
  • Field of Study
    Accounting
  • Level
    Basic
  • Credits
    2
  • Qualifies for

    CPE

Overview

New Accounting Standards Updates (ASUs) related to U.S. GAAP are issued on a regular basis. It can be time-consuming and confusing to keep up-to-date on the resulting impact on financial statements and disclosures, especially when many changes relate primarily to public business entities, larger companies, or specific industries. This course will focus on explaining the most significant U.S. GAAP updates that are relevant to small- and medium-size private entities.

Major Topics:

  • Private Company Council (PCC) influenced U.S. GAAP alternatives, such as common control leasing arrangements, interest rate swaps and goodwill
  • What nonpublic reporting entities need to do now related to ASU 2014-09 Revenue Recognition
  • The impact of the new ASU 2016-02 Leases, and whether there is anything entities need to do now to prepare for implementation
  • Highlights of other ASUs with open effective dates for nonpublic business entities that have the greatest likelihood of changing the financial statements of smaller entities
  • Significant pending FASB activity related to smaller private businesses

Learning Objectives

  • Describe the important accounting policy elections to consider related to Private Company Council (PCC) U.S. GAAP alternatives available to nonpublic entities
  • Discuss the highlights of the ASUs with outstanding effective dates for nonpublic business entities, focusing on the changes most relevant to small and medium-sized nonpublic business entities
  • Explain the possible impact of pending FASB activity most relevant to private companies

Who should take this course:

Designed for:

Accountants both in public and private practice responsible for preparing or attesting on financial statements and disclosures for nonpublic business entities

Prerequisite:

None

Advanced Preparation:

None

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