To update financial professionals on the latest developments in financial reporting from the FASB. You’ll learn how to apply all of the most recent pronouncements effectively and efficiently, and get an overview of the latest SASs and other current auditing issues.

• Accounting Standards
  – Impairment testing in general 
  – Leases 
  – Reference Rate Reform – LIBOR Transition 
  – Supplier finance programs 
  – Convertible instruments and debt 
  – Business combinations 
  – Joint venture formation 
  – Accounting for income taxes 
  – Insurance contracts 
  – SEC items 
  – Nonpublic company issues 
  – Proportional amortization of income credits 
  – Fair value measurement 
  – Crypto assets 
  – Segment reporting 
  – Profits interest 
  – Conceptual framework 
  – Disaggregation of income statement expenses 
  – Induced conversion of convertible debt
• Proposed Accounting Standards Update
  – Invitation to comment 
  – Environmental credits 
  – Financial key performance indicators 
  – Accounting for internal-use software 
  – Credit losses for non-public entities 
  – Government grants 
  – Interim reporting
• FASB Projects
• Non-GAAP Measures
  – IPOs
  – SEC comments and prohibitions
  – Center for Audit Quality (CAQ) guidance
  – SEC Chief Accountant comments
• Climate Change Accounting & Disclosure Proposals
  – Creation of the ISSB
  – SEC’s proposed climate rule
  – California environmental reporting
• Special Purpose Acquisition Companies (SPACs)
• SEC Rules for SPACs
• Auditing Update
  – Status of the PCAOB
  – Using the work of specialists
• Statements on Auditing Standards
• The Lease Capitalization Process

To update financial professionals on the latest developments in financial reporting from the FASB. You’ll learn how to apply all of the most recent pronouncements effectively and efficiently, and get an overview of the latest SASs and other current auditing issues.

DETAILED LEARNING OBJECTIVES

• Understand the effective dates of key ASUs 

• Recognize the implications of ASU 2023-05 for joint venture accounting

• Identify how discount rates affect impairment calculations

• Recognize which entities can use the practical expedient under ASU 2023-01

• Understand the effective date of ASU 2023-01 

• Recognize the significance of the sunset date extension under ASU 2022-06

• Identify the disclosure improvements under ASU 2022-04

• Recognize the key areas addressed by ASU 2021-04

• Recognize the effective date of ASU 2018-16 

• Understand the requirements in ASU 2023-09 on tax rate reconciliation

• Identify which entities must disclose disaggregated income taxes

• Identify the purpose of ASU 2023-09 

• Understand the disclosure requirements for tax reconciliation

• Recognize how ASU 2020-06 simplified convertible debt accounting

• Understand accounting treatment for convertible debt premiums 

• Identify the impact of ASU 2020-06 on beneficial conversion features

• Identify disclosure requirements for convertible instruments 

• Recognize simplifications in income tax accounting under ASU 2019-12 

• Identify the objective of ASU 2022-05 in reducing implementation costs

• Determine when insurance contracts qualify for derecognition

• Recognize the topics addressed under SAB Topic 14

• Identify how companies should account for crypto-assets held for users

• Identify disclosure requirements for crypto-asset obligations

• Recognize improvements in cash flow disclosures under ASU 2023-06

• Understand the need for liquidation preference disclosure under ASU 2023-06

• Recognize the risk-free rate election options for lessees

• Understand induced conversions in convertible debt accounting 

• Recognize how excess consideration should be accounted for

• Recognize improved commitment disclosures under ASU 2023-06

• Identify the purpose of the Proposed ASU on Environmental Credits 

• Recognize the primary focus of ASU 2022-04

• Identify topics excluded from FASB's current focus

• Understand the SEC’s concerns about misleading reporting

• Recognize SEC prohibitions for non-GAAP measures 

• Identify audit committee responsibilities regarding non-GAAP measures 

• Identify key components of climate-related financial disclosures 

• Understand the complexity of transitioning to ASC 842

• Recognize the key elements that define a lease

• Identify how lease expenses are reported

• Recognize how lease payments appear in the cash flow statement

• Understand lease modifications under ASC 842

• Recognize how risk-free rates affect lease liabilities

• Recognize the definition of incremental borrowing rate

• Understand typical founder share percentages relating to SPAC compensation

• Identify the standard period to complete a business combination

• Understand key risks identified by the SEC regarding SPACs

• Understand updates in SAS 142 on audit evidence 

• Accounting Standards
  – Impairment testing in general 
  – Leases 
  – Reference Rate Reform – LIBOR Transition 
  – Supplier finance programs 
  – Convertible instruments and debt 
  – Business combinations 
  – Joint venture formation 
  – Accounting for income taxes 
  – Insurance contracts 
  – SEC items 
  – Nonpublic company issues 
  – Proportional amortization of income credits 
  – Fair value measurement 
  – Crypto assets 
  – Segment reporting 
  – Profits interest 
  – Conceptual framework 
  – Disaggregation of income statement expenses 
  – Induced conversion of convertible debt
• Proposed Accounting Standards Update
  – Invitation to comment 
  – Environmental credits 
  – Financial key performance indicators 
  – Accounting for internal-use software 
  – Credit losses for non-public entities 
  – Government grants 
  – Interim reporting
• FASB Projects
• Non-GAAP Measures
  – IPOs
  – SEC comments and prohibitions
  – Center for Audit Quality (CAQ) guidance
  – SEC Chief Accountant comments
• Climate Change Accounting & Disclosure Proposals
  – Creation of the ISSB
  – SEC’s proposed climate rule
  – California environmental reporting
• Special Purpose Acquisition Companies (SPACs)
• SEC Rules for SPACs
• Auditing Update
  – Status of the PCAOB
  – Using the work of specialists
• Statements on Auditing Standards
• The Lease Capitalization Process