FASB Hot Topics Self-Study Webinar

To provide accountants with a thorough treatment of the most important issues currently on FASB’s plate. You’ll gain a solid understanding of topics receiving significant attention, including leases, stock-based and other employee compensation plans, and business combinations and consolidations.

• Identify the IAC proposals for reforming the accounting standard setting process

• Recognize current FASB priority projects

• Recognize the role of the Private Company Council is developing GAAP

• Recognize the future role of the FASB’s codification improvements

• Identify the extent to which the SEC is perceived to have authority over the accounting and reporting of crypto assets

• Identify the primary rules of the FASB’s proposal for accounting for crypto assets

• Recognize the points of emphasis found within the FASB’s proposal for improvements to segment reporting

• Recognize the provisions found within the FASB’s proposal for enhanced income tax disclosures

• Identify what types of cost would be required to be disaggregated under the FASB’s income statement disaggregation project

• Identify transactions qualifying for treatment as a business combination

• Identify the scope of Topic (Topic 805)

• Recognize the parameters of a business combination measurement period

• Recognize the threshold for recognition of a contingency in a business combination

• Identify the disclosure requirements of a business combination

• Identify the basis for recognition of a gain or loss on the deconsolidation of a subsidiary

• Recognize the accounting treatment of a change in the parent’s ownership interest in a subsidiary where control is maintained

• Recognize the required elements of a business under the definition found in the codification

• Identify the options for the recognition of intangibles separate from goodwill in a business combination

• Recognize the implications of accounting for goodwill impairments under ASU 2017-04

• Identify the share-based compensation arrangements falling within the scope of FAS123R

• Identify the option pricing model used most often to value stock-based compensation

• Recognize the date on which the fair value of stock-based compensation is measured

• Business combinations (ASC 805)
  – Consolidations
  – Clarifying the definition of a business
  – Push down accounting
  – Fair value and FAS 141R
  – Variable interest entities and control (ASC 810)
  – Interests by related parties under common control
  – Intangibles, goodwill and impairment testing, including special treatment for nonpublic entities
  – Equity method, including recent FASB changes
• Share-based payment plans and other employee benefit plans
  – Overview and objectives
  – Valuation methodologies
  – Tax implications
  – Disclosure requirements
• Lease accounting—summary and adoption of new guidance
  – Comparison of old and new standards
  – Lessee vs. lessor treatments
• FASB Simplification Initiative
• The impact of COVID-19