Surgent's Annual FASB Update and Review
4.00 Credits
Member Price $159
Non-Member Price $209
Overview
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, with the greatest emphasis on those ASUs effective in 2024 and 2025. Specifically, the course will review recently issued FASB standards on disaggregated expenses, cryptocurrency (e.g., crypto assets), and the final stages of the ASC 606 post-implementation review (PIR) report findings and other hot-button accounting issues, such as what is on the FASB’s technical agenda. Lastly, we will provide an overview of non-GAAP financial measures disclosed by companies and review the current SEC and IFRS guidance over such measures and their disclosure.
This course is the place to go for a succinct but thorough update on the big topics impacting financial accounting and reporting.
Highlights
- Private company standard setting activities
- Recent FASB Accounting Standards Updates (ASUs), including those addressing crypto assets (i.e., cryptocurrency)
- Non-GAAP financial measures
- ASC 606, Revenue from Contracts with Customers
- ASC 606 final PIR report findings
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
- Recall common non-GAAP financial measures and requirements surrounding their disclosure
- Understand the key provisions and updates to Topic 606, Revenue from Contracts with Customers, and the results of the final stage of the FASB’s PIR process, including its final report on the topic
Preparation
None
Leader(s):
Leader Bios
Jason Carney, Surgent McCoy CPE, LLC
Jason Carney, CPA, CISA, PMP, CISSP, CCSP, Esq. is a Lead Information Security Analyst with Thomson Reuters. He has more than 15 years of experience in public accounting, consulting and industry. His specialties include information security, tax problem resolution and data analysis. Carney has worked in Federal Finance, Information Security and Tax. He is a member of the Minnesota Bar and was a President’s Scholar at the University of Saint Thomas Law School. Carney co-founded the Scott County Conciliation Clinic and represents impoverished debtors pro bono in association with the Volunteer Lawyers Network. He wrote “What is Business Intelligence and Why Should CPAs Care?” for Footnote and contributed to the upcoming What Every Lawyer Needs to Know About Client Trust Accounts.
Non-Member Price $209
Member Price $159