Accounting Update: A Complete Review of Key New Pronouncements Self-Study Webinar
Overview
Keeping pace with evolving accounting standards is essential for any accurate financial reporting. This self-study webinar provides a comprehensive review of recently issued FASB Accounting Standards Updates (ASUs) and emerging accounting developments that may significantly affect financial reporting and disclosure requirements for business entities. Participants will gain a clear understanding of recently issued guidance related to environmental credits, government grants, hedge accounting, income tax disclosures, and more. Additionally, participants will examine the practical implications of new guidance, including implementation considerations, disclosure requirements, and presentation issues affecting financial statements. This includes the process of:
- Identifying recently issued FASB Accounting Standards Updates and evaluating their impact on financial statement recognition, measurement, presentation, and disclosure
- Assessing implementation considerations associated with new accounting guidance across multiple financial reporting areas
- Applying newly issued guidance to improve the quality, consistency, and compliance of financial reporting practices
Objective
To provide accounting and finance professionals with a practical understanding of recently issued FASB Accounting Standards Updates and emerging accounting developments so they can effectively implement new guidance and maintain compliance with current financial reporting requirements.
DETAILED LEARNING OBJECTIVES
• Identify the scope and key provisions of ASU 2026-02, Environmental Credits and Obligations
• Recognize the accounting and measurement requirements for environmental credits and environmental credit obligations
• Determine the appropriate accounting treatment for paid-in-kind (PIK) dividends on equity-classified preferred stock under ASU 2026-01
• Identify the transition methods available for implementing ASU 2026-01
• Describe the objectives and key provisions of ASU 2025-12, Codification Improvements
• Explain the purpose of ASU 2025-11, Interim Reporting—Narrow-Scope Improvements
• Identify the accounting requirements for government grants received by business entities under ASU 2025-10
• Recognize the objectives and implementation guidance provided by ASU 2025-09, Hedge Accounting Improvements
• Distinguish between costs that are capitalized and expensed under the guidance for internal-use software
• Explain the accounting treatment for share-based consideration payable to a customer
• Determine the accounting consequences of induced conversions of convertible debt instruments
• Identify the disclosure objectives of ASU 2024-03, Disaggregation of Income Statement Expenses
• Recognize the enhanced disclosure requirements under ASU 2023-09, Improvements to Income Tax Disclosures
• Describe key observations from the FASB's Post-Implementation Review of Topic 842, Leases
Emphasis
Significant accounting developments and recently issued FASB standards affecting financial reporting, including:
– Environmental credits and environmental credit obligations (ASU 2026-02)
– Paid-in-kind dividends on preferred stock (ASU 2026-01)
– Codification improvements and SEC accounting updates (ASU 2025-12 and ASU 2025-02)
– Interim reporting improvements (ASU 2025-11)
– Government grant accounting for business entities (ASU 2025-10)
– Hedge accounting and derivatives developments (ASU 2025-09 and ASU 2025-07)
– Purchased loans and credit loss accounting (ASU 2025-08 and ASU 2025-05)
– Internal-use software accounting (ASU 2025-06)
– Expense disaggregation, income tax disclosures, and convertible debt developments (ASU 2025-01, ASU 2024-03, ASU 2023-09, and ASU 2024-04)
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