Implementing FASB's Revenue and Leasing Standards in Private Companies: GAAP vs Alternate Reporting Frameworks

Dec 6
8:00 - 4:00 p.m.

Regional Learning Alliance
Cranberry - Map

8-A&A
CPE Credits

Be prepared for the radical changes in financial reporting for revenue and leases. Consider whether GAAP is right for your clients. Hear about choices and solutions available to ensure cost effective, relevant reporting.

Highlights

Who is required to follow GAAP and why?
Evaluate private company reporting frameworks, as well as cash and tax basis and FRF for SMEs
ASU 2014-09: How it changes revenue recognition, measurement, and disclosure
How the balance sheet treatment of leases will alter financial statement numbers, ratios, and loan covenants
ASU 2016-01: Right-of-use, present value approach to capitalizing leases
Challenges involved with implementation - system and independence
Will an Alternate Financial Framework provide more cost effective reporting?
Advantages and challenges that non-GAAP reporting brings

Registration

PICPA Member: $249
Nonmember: $349

More Information

Course No. 754801

Level: Update

Prerequisites: None

Speaker(s)

Ray Thompson

Assoc Professor Accounting & Finance

University of Pittsburgh - Johnstown

Dr. Ray Thompson, CMA, CFM, CBA

Dr. Ray Thompson is Emeritus Associate Professor of Accounting & Finance at the University of Pittsburgh. He served as department head at the UPJ campus for over 25 years. He was also Associate Director of UPJ’s Entrepreneurial Development Assistance Project, where he was involved in financial consulting and assisting in preparing loan proposals for small business start-ups.

He has taught in graduate and undergraduate business programs in Europe, Africa and the US. He received his B.S. and M.S. degrees in Economics and Systems Dynamics from the University of Bradford in the United Kingdom, his M.B.A. in Accounting from Xavier University of Ohio, and his Doctor of Business Administration from Nova University. Ray is also certified in Financial Management and is a Certified Management Accountant and Certified Business Appraiser. He recently became certified in International Financial Reporting Standards though the Institute of Chartered Accountants in England and Wales.

Ray is a professional educator and writer. He authors and conducts professional development seminars for Fortune 500 and international corporations, multinational financial institutions, State CPA Societies, and CPA firms throughout the US. In addition to these live seminars, he also produces both recorded and written courses for self study. He also provides business valuation services and consults with accounting firms and sole practitioners on a range of accounting issues in the area of valuation. Ray was part of the George & Ray team which offered Accounting & Auditing courses for over 20 years.

Ray is a member of the Institute of Management Accountants and the Institute of Business Appraisers. He is also a faculty associate member of AICPA and PICPA, and is a member of the Financial Reporting Faculty of ICAEW. He lives in Bedford County, PA, and can be reached at (814) 839-0143 by phone or at drrayt@verizon.net.

Subscribe to PICPA's personalized e-newsletter to receive news and events that interest you.