Accounting Standards Review for Controllers and Finance Professionals
Description
Get a comprehensive review of current accounting standards that impact practitioners in industry. Recent auditing pronouncements and related developments which affect CPAs in industry will be addressed. While the course will review many of the major pronouncements of the past ten years, coverage and emphasis will be customized to the interests of the participants. Choose the topics to be covered in this seminar based on your interests.
Learning Objectives
Upon completion of this course, participants will be able to:
Recognize the reporting options provided by FASB and AICPA for non-public companies
Learn how FASB & IASB’s convergence agenda is reshaping revenue recognition, lease accounting, and financial instrument reporting
Receive an update on recent trends in fraud reporting and internal control
Obtain a broad-based understanding of a wide range of accounting issues that affect practitioners in industry, both today and in the coming 12 months
Understand how SEC, AcSEC, EITF, ASB, and IASB are adapting to demands for different, more timely, and accurate financial information
Major Topics
Overview of accounting standard setting
Update on private company reporting
Revenue recognition, transitioning to the new standard
Lease accounting
Financial instrument accounting
Fair value accounting: SFAS 157 and its evolution
A practical guide to impairment
Contingencies and subsequent events
Principles-based accounting
Fraud
Internal control reporting in public and non-public entities
Course Level
Update
Professional Area of Focus
Accounting & Auditing
Business & Industry
CPE Field of Study
Accounting
8
Who Should Attend
CPAs in industry who prepare and analyze financial reports; CPAs in practice with industry clients who need an overview of current accounting standards will also find the course to be beneficial.
